La Poste/Correos strategic agreement – M Vial speech

Martin Vial, President, La Poste, delivered a speech in Madrid on the occasion of the signing of a strategic agreement between the La Poste group and the Spanish post office, Correos y Telégrafos. Alberto Nunez Feijoo, General Manager of Correos y Telégrafos, and Vial signed the agreement in the presence of Francisco Alvarez-Cascos, Spanish Minister for Equipment and Regional Planning, that is aimed at strengthening cooperation between the two posts in order to jointly consolidate their position for express parcels in the Spanish market. Under this strategic agreement, the two partners will gather, within a single network based in Spain, all of their express parcel activities at national and international levels, thus offering their customers a powerful express service and strong added value. Correos y Telégrafos will bring within a common company its B2C parcel express business together with its B2B business already ensured by “Chronopost Express Espagne (Spain)”, a joint venture created by Correos y Telégrafos and Chronopost International in 1999. The newly-created entity, managed mainly by Correos y Telégrafos, will be called “ChronoExprés”. Spain represents, with revenues of 2 billion euros, about 7% of the European express parcels market. Spain is in fifth position behind Germany (23.9%), Great Britain (20.4%), France (16.4%) and Italy (7.4%). This market is experiencing a strong growth rate of 15% a year. Correos y Telégrafos hopes, as a result of this alliance, to reach 12-15% of the Spanish market in three years, and to become one of the first three operators in Spain to play a major role in the electronics trade. In addition, this alliance will benefit from the integrated international networks of Chronopost International and DPD, who are part of the La Poste group.
Speech (in French) available at www.postinsight.com