FedEx Freight will implement a 5.9 percent general rate increase effective June 14, 2004. The increase will apply to interstate and intrastate traffic, and selected shipments between the United States and Mexico and Canada. Various additional adjustments will include select minimum and accessorial charges as well as some select lanes and service areas.
Read MorePostbank, the banking arm of the German postal authority Deutsche Post, is hoping to raise a little over three billion euros (3.6 billion dollars) from its initial public offering (IPO) at the end of June.
In order to estimate its market value, Postbank undertook a comparison with other big listed European banks specialising in retail banking. The banks lead-managing the flotation estimated Postbank was worth a total 6.1 billion euros
Read MoreExperienced LYNX Express Commercial executive Neil Turner has recently been promoted to the position of General Manager for LYNX@Home, the company’s recently launched home delivery division. His new position, which is based at the company’s head office in Nuneaton, will add his knowledge and focus to the LYNX@Home sales environment, from his broad spectrum of experience from both within LYNX and his previous accountancy roles at BASS.
Read MoreTNT Express, the express division of TPG N.V., has today announced a EUR36m investment plan to expand capacity and upgrade facilities at its European air hub in Liège, Belgium.
This initial investment – to be completed by the end of 2005 – is part of a six-year programme expected to total EUR94m. It will create 245 new jobs by 2010 and confirms the company’s strong commitment to the Liège area.
Read MorePitney Bowes Inc. have acquired substantially all of the assets of International Mail Express, Inc. for USD29 million. With annual revenue of approximately USD54 million, IMEX consolidates letters and flat-sized mail headed to international addresses to reduce postage costs and expedite delivery.
Read MoreDeutsche Post World Net AG could lose its domestic monopoly to deliver mail weighing less than 100 grams prior to 2007, according to a German government letter.
German Economy Minister Wolfgang Clement wrote to EU Competition Commissioner Mario Monti and promised to change the law, ‘without delay,’ although he did not specify an exact date.
Read MoreThe Lithuanian parliament has passed a law to transform the state enterprise Lietuvos Pastas (Lithuanian Post) into a public limited company, 100 percent owned by the state.
The postal operator will be put on the list of enterprises of strategic importance to the national security after its conversion into a public limited company.
Read MoreDeutsche Post, the German postal service, is expected to face increasing competition in services involving the collection and sorting of letters. Until now, the company has refused to allow competitors to collect and sort letters weighing less than 100g; discounts are granted only to major customers. However, the EU believes that this is an infringement of guidelines on the liberalisation of postal services. Wolfgang Clement, the German minister of economic affairs, has now agreed to amend the law on postal services in Germany in order to open up the market for the collection and sorting of letters.
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