Acquisitions possible as Posten Norden alters name

Posten Norden has announced it is to change its name to PostNord, as it looks to partnerships and acquisitions in order to grow. President and CEO Lars Idermark spoke on the importance of continued development at the company’s AGM today (15 April).

He suggested that PostNord will “engage in partnerships or make acquisitions”, whilst exploring the opportunities for growth.

Despite such aspirations, Idermark highlighted that the Group’s market situation is becoming increasingly challenging, operating in an area where competition is increasing.

Idermark said the company has a responsibility to its shareholders, customers and over 40,000 employees to ensure the Group grows and becomes stronger as a company:

“We’ll do this by actively continuing to develop the underlying business. That is, more business with existing and new customers. We will demonstrate ability to innovate and grow in new areas where we see opportunities to develop healthy and profitable business.

“We will engage in partnerships or make acquisitions where we see that we can strengthen our offering or our market position.

“We will be responsive to our customers’ needs and aim to exceed their expectations. With the Nordic region as our domestic market, we will be the leading player in communications and logistics in northern Europe.”

However, strict cost management would remain, Idermark insisted. Further adjustments to production and administration must be made, and the Group must increase its capital efficiency, flexibility and scalability in terms of expenses.

In other business at the AGM, all board members were re-elected, as was chairman of the Board, Fritz H. Schur.

Posten Norden was formed through the merger of Post Danmark and Posten AB in 2009. The group offers communication and logistics solutions to, from and within the Nordic region, with sales of approximately SEK 42bn.