The week that was: 22 June, 2012
Rounding up the biggest stories of the week on Post&Parcel, including UPS’s multi-billion dollar cash offer for TNT Express, a regulatory row over USPS mail plant consolidation, and Brazil Post’s environmental pledge…
USPS says regulators cannot stop plant closure programme
The US Postal Service urged regulators to reject a union attempt to derail its plans to close 48 mail plants, which is set to begin in less than two weeks’ time.
It said this week that the complaint filed by the American Postal Workers Union with the Postal Regulatory Commission last week “ignores the governing law”, and that the Commission does not have the authority to block its closure plans, adding that any attempt to delay closures would harm the USPS finances.
The union clarified that it was not calling for USPS to stop closing any mail plants until an Advisory Opinion was issued by the Commission, but that it should not make changes to its mail service standards until the review is complete.
UPS makes formal cash offer for TNT Express
UPS said TNT Express shareholders now have until the end of August to decide on its $6.3bn offer for the Amsterdam-based integrator.
The US company issued a statement this week confirming that its EUR 9.50 per share cash offer officially commences tomorrow. The offer values TNT Express at around EUR 5bn ($6.3bn USD).
TNT Express is holding an Extraordinary General Meeting on 6th August to discuss the offer, after publishing its results for the first half of 2012 on 30 July.
Brazil Post signs on to IPC’s carbon-cutting programme
Brazil Post – Correios – has become the first Latin American postal operator to sign up to the global environmental monitoring initiative run by the International Postal Corporation (IPC).
The Post and Telegraph Company president Wagner Pinheiro de Oliveira added his moniker to an agreement with IPC president Herbert-Michael Zapf yesterday, at the UN’s Rio +20 sustainability summit, pledging to monitor and reduce his firm’s carbon emissions.
Brussels-based IPC said the signing was a “significant milestone” for its initiative, which now counts 24 postal operators on board around the world.
And finally…
As last preparations are completed for the launch of Ireland’s new parcel terminal network by Dublin-based carrier Nightline, chief executive John Tuohy discusses the threats and the opportunities of this revolutionary final mile solution.
