Austrian Post buys stake in Czech parcel company

Austrian Post has bought a 31.5% stake in the Czech parcel service provider IN TIME. In a statement issued today (31 August), Austrian Post said that it “will integrate IN TIME in the Austrian Post parcel network over the long term”.

“In the near future,” added Austrian Post, “the focus will be on know-how transfer as well as financial support for investments to further develop IN TIME. The objective is for IN TIME to become a leading provider of B2C (delivery to private individuals) and B2B (delivery among companies) parcel solutions on the Czech market.”

Founded in 1990 as the first private courier and parcel service in the Czech Republic, IN TIME delivered about 4m parcels in 2016, generating annual revenue of about €10m.

Austrian Post now operates in twelve European countries.

Both Austrian Post and IN TIME are members of the EURODIS logistics network.