Majority Share for Canada Post
Canada Post is to acquire a majority interest in Progistix Solutions, a wholly-owned third party logisics subsidiary of Bell Canada. The post is partnering in the deal with Intelcom Courier Canada, a Montreal based, same day delivery and logistics solutions company, which is also acquiring an interest in Progistix. As part of this venture, the post will also become a shareholder in Intelcom.
Andre Ouellet, president and CEO of Canada Post said: This is part of a global trend for distribution, transportation and logistics companies to consolidate, often with postal administrations, to provide greater scale, reach and seamless end-to-end service offerings. There is no doubt this is the direction Canada Post must take, We must develop a strong presence in providing fully integrated logistics solutions. If we dont move into these areas, our ability to compete in the distribution business and, ultimately, our ability to provide universal affordable services will be undermined.
