French GeoPost to invest 25 Mln Euro in Polish subsidiary
French courier service provider GeoPost, a subsidiary of French postal service company La Poste, plans to invest 25 mln euro ($30.6 mln) in its wholly-owned Polish subsidiary, courier service firm Masterlink, it was reported on April 15, 2006.
The three-year investment programme is in line with GeoPost’s strategy of strengthening its position on the Polish market. It includes purchasing land plots, expanding its network across the country, constructing parcel-sorting centres and renovating existing offices. The company also plans ro deploy new IT systems and employ a further 1,000 in the next three years.
The programme does not involve acquisitions on the local market, GeoPost president and CEO Paul Marie Chavanne said.
According to the surveys carried out by La Poste and Masterlink, the Polish market is seen favourable for courier services in the next four or five years.
Masterlink (www.masterlink.com.pl) set up in 1991, offers local, domestic and international courier services.
http://www.rzeczpospolita.pl/
Source: Rzeczpospolita
