Postal Digest – News from PostNord, Royal Mail and Norway Post
Featuring more headlines from around the postal world, with new appointments at Post Danmark and Norway Post, a new $850m bond issuing at PostNord and a new official charity for Royal Mail…
PostNord gains green light for $850m bond programme
Scandinavian postal operator PostNord has received approval from the Swedish Financial Authority to issue up to SEK 6bn ($848m USD) in bonds.
The medium-term notes will be issued on the Swedish market, with SEB the arranger and dealer along with Danske Bank, Nordea, Handelsbanken Capital Markets and Swedbank. PostNord said the funding injection would help with its continuing restructuring to counter declining mail volumes and grow its logistics business.
Torsten Fels, acting CFO at PostNord, said: “Our strategy involves reorganising operations to secure profitability in our mail business and develop our position in logistics. Efficient funding is essential to this work. Establishing the bond programme offers us new opportunities to diversify our funding.”
Royal Mail to support prostate cancer charity
Royal Mail staff have chosen Prostate Cancer UK to be the company’s official charity of the year from 2012 until mid-2014.
In a staff vote, more than 36,000 postal staff chose the charity as the focus of fundraising efforts that should see employees raising around GBP 1m, with Royal Mail matching the donations. The funds would help pay for around 50 specialist prostate cancer nurses. Royal Mail’s previous charity partnership raised GBP 2.6m for children’s charity Barnardo’s over four years.
Owen Sharp, chief executive of Prostate Cancer UK, said: “This partnership will make a real and tangible difference to the quarter of a million men living with this disease. As well as ensuring more men build a relationship with a specialist nurse – which they tell us is invaluable – it will help us get the message out to thousands of Royal Mail employees.”
Nielsen to head up Post Danmark freight unit
Post Danmark has appointed Jesper Nielsen as managing director of its Transportgruppen A/S logistics subsidiary, effective today (27 June).
Nielsen, who was head of strategy and projects in PostNord Logistics, takes over from Peter Bjerregaard, who is seeking new challenges elsewhere. Post Danmark has had a controlling share in Transportgruppen A/S since 2007, and last year bought all remaining shares in the pallet and freight logistics company, which has 600 trucks, 800 staff and an annual turnover of about DKK 230m ($38.6m USD).
Carsten Dalbo, head of logistics at Post Danmark, said Nielsen had a “thorough knowledge” of international logistics. He said: “As an important part of our new strategy is to create substantial growth in international activities in close collaboration with the Post’s other subsidiaries. I am very pleased that Jesper Nielsen has agreed to spearhead the development.”
Idar Kreutzer appointed Norway Post chairman
The chief executive of Norwegian financial services company Storebrand has been elected to become the new chairman of Norway Post.
Idar Kreutzer, 50, has been CEO of Storebrand for 12 years, and is also currently managing director of financial sector trade association the Financial Services Union (FNO). A graduate of the Norwegian School of Economics, he has held key positions in various Norwegian companies including Orkla, Statoil and Hydro. The Norwegian government said Energy Norway renewable energy director and former government energy minister Sigrid Hjørnegård has been appointed a board member for Norway Post.
“Kreutzer has extensive experience from Norway’s trade and industry, and Hjørnegård has extensive political experience. together they will constitute a resource for the Post’s future,” said transport minister Marit Arnstad.
