DPWN CEO Targets 5-Fold Rise in Asia Sales
Deutsche Post AG chief executive Klaus Zumwinkel said he is targeting a fivefold increase in the company’s sales in Asia by 2010. “I am working on the assumption that we will increase our sales in Asia to up to 10 billion euros from (the current) 2.0 billion,” he said in an interview in Shanghai with Deutsche Presse-Agentur. Given its high growth rates, the Asian region has a key strategic importance, and the German postal and logistics company plans to invest 920m eur in expanding its infrastructure there by 2008. Part of the expansion will be funded from the expected multi-billion-euro proceeds of next month’s planned IPO of Deutsche Post’s retail banking unit, Postbank AG. Most of the cash from the offering will go towards strengthening its European and international letter freight business, though some will be used to cover pensions commitments, Zumwinkel added. Last year Deutsche Post generated 43% of its 40b eur of sales abroad.
