Correos y Telegrafos and La Poste expand cooperation
Correos y Tetegrafos and La Poste expand cooperation
The Spanish and the French mall service providers Correos y Telegrafos and La Poste are expanding their strategic alliance for express parcel services. The French mail service provider La Poste recently announced in Paris that the two mail companies are further expanding the scope of their cooperative ventures. The business-to-business firm Chronopost Espagne was established at the end of the year 1999 with each of the two parent companies holding a 50% share. It is now to be complemented by a second courier, express and parcel service provider to be called ChronoExpress. Correos y Telegrafos will have a majority stake in this new venture.
La Poste strengthens presence in Mediterranean
The new company targets business-to-customers express parcels. By the year 2004, ChronoExpress intends to have a share of up to 15% of the domestic market. However, Correos y Telegrafos currently only commands a modest 6% of the Spanish market in this sector.
The Spanish express parcel segment has an annual growth rate of approximately 15%. With the extended alliance, La Poste is expected to reinforce its presence in the Mediterranean region. Correos y Telegrafos still makes about 90% of its overall turnover of EUR 1.3 million with letters. The extended cooperation agreement also gives the Spanish mail service provider access to its French partner’s two international courier, express and parcel distribution networks: The two La-Poste subsidiaries Chronopost International and DPD will give Correos international contacts.
