Author: Archive

TPG to invest 200 mln eur in China over 3 yrs to integrate business

Posted by | Sep 6, 2004 | |

TNT Post Group (TPG), the largest private post group in the Netherlands, will invest 200 mln eur in China over three years to integrate its business in the country, the Economic Observer reported, without naming its sources. According to the newspaper, the Dutch company will integrate its postal, express and logistics businesses in China into TNT One, and announce part of its investment plans in the country on September 10. The investment plans are part of the company’s expansion strategy in China before international express delivery companies are allowed to wholly operate businesses in China in November 2005, the paper said. It quoted a source familiar with the investment plans as saying TPG plans to set up a joint venture in China, possibly with China Post, but the source declined to release detailed cooperation plans.

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FedEx begins freight service to Paris from Budapest

Posted by | Sep 6, 2004 | |

FedEx Corp. launched regular freight services between Paris and Budapest last Monday, a source close to its Hungarian subsidiary, Flying Cargo Hungary Kft, told the BBJ. Connecting Budapest with Charles de Gaulle Airport four times a week, the service is carried on one of FedEx’s own aircraft. The new service is expected to shorten delivery times for packages travelling between Hungary and Western Europe.

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Deutsche Post reiterates 2004 ebita will rise as much as 13%

Posted by | Sep 6, 2004 | |

Deutsche Post AG, Europe’s largest postal service, reiterated that it expects profit to grow as much as 13 percent as the express division’s earnings rise.
Earnings before interest, taxes and amortization in 2004 will rise by 7.5 percent to 13 percent from the 2.98 billion euros (USD3.59 billion) posted in 2003, Chief Financial Officer Edgar Ernst said in remarks published on the company’s Web site for an investors’ conference at its Bonn headquarters. Deutsche Post on July 30 raised its 2004 earnings forecast after the sale of stock in the Deutsche Postbank banking unit helped boost second-quarter profit 87 percent. The company plans to spend 3.6 billion euros on expansion over the next two years with a goal of becoming the world’s biggest logistics company, and is considering a bid for 25 percent of Denmark’s postal service.

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USPS shortchanged by USD800 million, Potter says

Posted by | Sep 6, 2004 | |

Congress is shortchanging the U.S. Postal Service under planned fiscal 2005 appropriations and should restore more than USD800 million in funding, Postmaster General John Potter said Aug. 31. In a letter to Rep. Ernest Istook, R-Okla., chairman of the House Appropriations subcommittee on Transportation, Treasury and independent agencies, Potter said programs to provide free mail for the blind and overseas voters and to secure postal facilities against future bioterror attacks are jeopardized by the lack of appropriations. The Postal Service wants nearly USD76 million to subsidize free mail services; the House spending bill would provide almost USD62 million.

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Postcomm chief’s compensation challenge

Posted by | Sep 6, 2004 | |

A major clash between post users and Royal Mail over compensation would be the first big test of the man at the top of the industry regulator Postcomm. Nigel Stapleton, chairman of Postcomm, has so far avoided the high-profile public rows with Royal Mail that were a feature of the tenure of his predecessor Graham Corbett. But he has also said: “You need to be a good listener but also to take a robust approach. Graham was not a pushover and I am not a pushover.”
He will be aware of the damage to Royal Mail’s public standing if it is seen as attempting to dodge its responsibility to compensate customers for constantly failing its service standards.

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Deutsche Post makes non-binding offer for 25 pct stake in Post Danmark

Posted by | Sep 6, 2004 | |

Deutsche Post World Net AG has made a non-binding offer for a 25 pct stake in Danish postal service Post Danmark ahead of today’s deadline to table bids, said a company spokesman. The spokesman added Deutsche Post is also interested in a higher stake in Post Danmark if it succeeds in its initial bid, and if it is legally permitted. He declined to say how high the bid was. Deutsche Post chief executive Klaus Zumwinkel said in July he was considering bidding for the stake in Post Danmark, which the Danish parliament has agreed to privatise.

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Spanish government takes axe to mangement of postal services provider

Posted by | Sep 6, 2004 | |

In Spain the public works Minister, Magdalena Alvarez, has undertaken a major management restructure at postal services operator Correos. In July and August more than a dozen executives and middle management staff left the company, including financial director Diego Valle and head of communications Emma Marin. Sources close to the company have indicated that the management restructure is not yet complete and that more departures could occur over the next few days.

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