Fiat, DHL, Deutsche Postbank Form Auto JV
Fiat SpA’s automotive unit, Deutsche Post AG’s financial services division and DHL Worldwide Express Ltd. said they are forming a venture to manage the Italian carmaker’s spare parts logistics in Europe. Deutsche Postbank AG will hold 29.1 percent in the venture, while closely held DHL Worldwide will have 19.9 percent and Fiat Auto will take 19 percent. Other investors will hold 32 percent, the companies said in a faxed press release.” Lysaght says, “The new company will manage the movement of Fiat automotive spare parts to dealers and related operations. Fiat’s parts business in Europe has annual turnover of 2.5 billion euros ($2.3 billion). Deutsche Post has a 51 percent stake in DHL Worldwide’s DHL International unit.
Postal Insight
