La Poste to enter China by partnering with Kerry EAS
France’s La Poste is to cut into the Chinese market by forming a partnership with China’s logistics company Kerry EAS.
The two parties has clinched an initial agreement, and they will respectively make CNY 100 million investment in creating a joint venture. Besides, they have been in touch since the beginning of the year, and their new company is expected to be launch into operation in 2006. In 2003, La Poste said it would inject EUR 1 billion in development plan on post for the following five years. Apart from enhancing its competitiveness in France and Europe, La Poste will step up modernization of equipment and enter the Asian market with the investment.
The French company entrusted a consulting firm to seek a partner in China last winter, and it held talks with some noted logistics companies in the country including Kerry EAS and ZJS Express.
