Author: Archive

La Poste beats JP Morgan and Bridgepoint to Spanish Seur

Posted by | May 15, 2004 | |

The owners of Spanish express courier company Seur have entered into an agreement with French postal group La Poste to prevent the entry of US venture capital company JP Morgan Partners and British venture capital group Bridgepoint. The 63 franchisers and shareholders in the group exercised their pre-emptive rights and held onto the 21.4 per cent of the company and the Madrid office of the firm, which accounts for more than 18 per cent of total company turnover, that the founder Justo Yufera, had offered for sale. The Spanish restrictive practices commission has yet to give the operation the green light.

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Kentucky and Ohio compete to keep DHL jobs

Posted by | May 15, 2004 | |

Ohio and Kentucky have been thrust into a competition to keep and possibly expand their DHL cargo hubs, a major employer in both states.

Both states are putting together tax incentive packages to persuade DHL to choose one over the other. Thousands of jobs may be at stake in what could be one of the most expensive contests between the two states to keep and expand jobs.

DHL, which operates an air hub and package sorting facility at Cincinnati/Northern Kentucky International Airport, is considering consolidating that hub with a larger one it now owns in Wilmington, Ohio, just 50 miles to the north, said DHL spokesman Jonathan Baker.

DHL bought Airborne Express last summer and insisted it would keep both its Cincinnati facility and a similar operation at Airborne’s Wilmington airport. But the company changed its tune after the closing of the $1 billion deal and an ongoing consolidation of other DHL operations.

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Deutsche Post rejects idea of selling Postbank to Deutsche Bank

Posted by | May 14, 2004 | |

Deutsche Post, the German postal service operator, revealed yesterday that it would not sell Postbank, its banking subsidiary, to a domestic or foreign bidder, but would go ahead with the subsidiary’s planned flotation. Deutsche Post has thus ended negotiations with Deutsche Bank, Germany’s largest bank which had been interested in acquiring Postbank.

Deutsche Bank will, however, continue to act as lead manager for Postbank’s flotation, together with Morgan Stanley

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MPs pass Slovenská pošta transformation

Posted by | May 14, 2004 | |

The state-run postal service Slovenská pošta will be transformed into a joint-stock company as of July 1. Its headquarters will remain in Banská Bystrica, Slovak MPs decided when passing the bill. The transformation will include internal restructuring, which could result in the reduction of management, the news wire SITA wrote. In addition, a new system of regional postal centres will replace the current post directorates.

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Deutsche Post cleared to expand: UPS, FedEx ponder appeal to block rival

Posted by | May 14, 2004 | |

United Parcel Service and FedEx have lost a bid to overturn a ruling that may aid Deutsche Post’s U.S. expansion efforts, which included the acquisition of ground-based operations from Seattle-based Airborne last year. The Transportation Department said yesterday it won’t review an administrative law judge’s Dec. 19 decision that German postal service Deutsche Post doesn’t control Miami-based Astar Air Cargo. UPS and FedEx, the largest U.S. package-delivery companies, argued that the German company’s DHL unit controlled Astar in violation of U.S. law. They can appeal in federal court. The two U.S. companies have sought to block DHL’s expansion in the USD 50.2 billion U.S. ground and air parcel-delivery market, analysts have said. Closely held Astar, the former DHL Airways, carries air cargo linked to DHL’s U.S. ground-delivery network, purchased in 2003 from Airborne.

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DHL named best express operator at AFSCA

Posted by | May 14, 2004 | |

DHL was named the Best Express Operator for the 18th consecutive year at the recently held Asian Freight & Supply Chain Awards 2004 (AFSCA) in Shanghai, China. A statement from DHL today said that the company also took three other awards at the event, asserting its leading position in Asia’s freight and distribution services. The awards were for the Best Logistics Services Provider-Air Freight, Best All Cargo Airline and Best Road Haulier-Asia.

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