Author: Archive

DHL bets big on India, to step up new investments

Posted by | May 27, 2006 | |

DHL will continue to invest in India as a core growth market, says Scott Price, CEO, DHL Express Asia Pacific. DHL has invested over USD1.6bn in Asia Pacific so far, of which US USD250m is in India. And, more is on the way. Until the late 1990s, says Mr Price, China took a lot of time and focus. But now we are beginning to see a shift to an Asia strategy that includes both India and China. He says increasingly India is seen as a very credible place to invest in, but the lack of good infrastructure hampers proper growth. Growth for DHL in India will come from auto, computers, chips, and textiles, which are sourced increasingly from India and will need a seamless time-sensitive supply chain.

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ANALYSIS: Is Royal Mail guilty of having its cake and eating it?

Posted by | May 26, 2006 | |

News that the Government is giving Royal Mail GBP1.7bn – on top of the recent price control – to update its service and get its pension fund back on track has irked many. But the watchdogs are firmly on-side. The Government’s decision to hand out GPB1.7bn to Royal Mail has been met with fury from competing postal operators. TNT Post UK chief executive Nick Wells has branded it “murky”, adding: “The game’s not being played on a fair playing field and I’d like to know where the referee is.” Opposition parties have also hit out at the move. But what do direct marketers think? One industry source claims Royal Mail is having its cake and eating it: “Postcomm’s recent price control was very generous – we assumed it was set on the basis that there wasn’t going to be any Government aid. For Royal Mail to receive both seems very one-sided.”

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Italy post office ready to be privatised, worth 10 bln eur – CEO

Posted by | May 26, 2006 | |

Massimo Sarmi, CEO of the Italian post office Poste Italiane SpA, said the company is ready to be privatised and that estimates of a market value of about 10 bln eur are ‘realistic’. Speaking in a meeting with the foreign press, Sarmi said it could take a year for the government to organise an IPO, but a direct sale to institutional investors could be much faster. He added that he has not yet meet the new government of prime minister Romano Prodi, who was sworn in on May 17. Poste Italiane is controlled by the economy ministry with a 65 pct stake, while 35 pct is held by the financial group Cassa Depositi e Prestiti SpA, which is owned by the government and private foundations.

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TNT to sell logistics division for at least 1.15 Bln Euro

Posted by | May 26, 2006 | |

TNT NV intends to sell its Logistics division, which has been up for sale since December 2005, for at least its current book value of 1.15 bln euro (USD1.471 bln), CEO Peter Bakker said on May 26, 2006. TNT expects to complete the divestment process in the second half of 2006. There are several options for using the sale proceeds, including an additional share buyback programme, a one-off dividend distribution and investments in the company’s further growth, Bakker added.

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Big businesses welcome UK Royal Mail's PiP plans

Posted by | May 26, 2006 | |

Most of the UK’s top 1000 firms believe Pricing in Proportion (PiP) will have a beneficial effect on direct mail by encouraging better targeting and lower volumes, new research shows. While the changes have met with criticism from some in the industry who believe they will stifle creativity, Royal Mail’s expectation is that two-thirds of business mail will be unaffected. Research from mail communications firm Corporate Mailing Matters (CMM) supports this, revealing that two-thirds of the UK’s top 1000 firms believe PiP will result in better targeting of direct mail. CMM said the move to lower volumes has already begun, with marketers increasingly focusing on aligning customer value and the uplift in response that better targeted and more creative mailings can bring.

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DHL to cut German package prices by up to 40 pct, 'or more'

Posted by | May 26, 2006 | |

Deutsche Post World Net AG said its express unit DHL will lower its package prices in Germany by up to 40 pct ‘or more’ in its ‘biggest customer offensive in the market for years’. In addition, the number of weight classes will be reduced from three to two: 10 kg packages and 20 kg packages, priced at 6.90 eur and 9.90 eur, from July 1. Previous prices for the two weight classes were 10.50 eur and 14 eur, respectively.

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KfW's 41.6 pct stake in Deutsche Post attracts investor interest

Posted by | May 26, 2006 | |

German state-owned development bank Kreditanstalt fuer Wiederaufbau (KfW)’s 41.6 pct stake in Deutsche Post World Net AG has attracted the interest of private equity and hedge funds, the Frankfurter Allgemeine Zeitung reported, citing financial sources. UK-based CVC is said to be among the interested parties. It already holds minority stakes in Danish and Belgian postal services, it said. CVC’s head of Germany, Steven Koltes would not comment other than to say that ‘we are very interested in European post companies’. Other companies named ‘in the market’ as interested in the Post-stake, are KKR, Blackstone and Permira, according to the FAZ. However, there are no concrete talks ongoing with KfW.

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FedEx Corp. Board declares quarterly dividend and announces Board changes

Posted by | May 26, 2006 | |

The Board of Directors of FedEx Corporation today declared a quarterly cash dividend of USD0.09 per share on FedEx Corporation common stock, an increase of USD0.01 per share over the previous dividend payment. The dividend is payable July 3, 2006 to stockholders of record at the close of business on June 12, 2006. FedEx Corporation today also announced that Daniel J. Sullivan, President and Chief Executive Officer of FedEx Ground, will retire effective January 5, 2007. Sullivan, 60, has led the company’s FedEx Ground operating unit and will be succeeded by FedEx Express Executive Vice President David F. Rebholz, 53.

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