The Parcel Network Of Deutsche Post Is Expanded Into Italy
The Parcel Network Of Deutsche Post Is Expanded Into Italy
7th January 1999
Deutsche Post is to acquire a majority stake of 90 per cent in the Milan based Italian express and parcel company MIT. The delivery of business express and parcels is the main sector of the business within Italy. The company was set up in 1979. Deutsche Post regards this acquisition as a further milestone in the development of it’s pan-European parcel network that covers 330 million people.
MIT has a total of 47 offices in Italy and generates a turnover of around DM 176 million per year. MIT employed approximately 1,000 employees and partners. Dr. Klaus Zumwinkel is the Chief Executive Officer of Deutsche Post and said, in relation to this acquisition, ” Our customers expect us to provide a first-class pan-European parcel service that meets top international standards. The strategy adopted by Deutsche Post is therefore to develop an efficient pan-European network. We are managing to do so by way of participating interests and co-operation. By acquiring a stake in MIT, Deutsche Post will be adding a further link to its European parcel network in Italy, one of the most important and fastest growing parcel and express markets in Europe”.
