Author: Archive

China Post targets H1 revenue of 26.4 BLN Yuan, up 6.73% yr on yr

Posted by | May 22, 2003 | |

China State Post Bureau (China Post) is aiming to record 26.4 bln yuan in revenue for the first half of this year, up 6.73 pct year-on-year and representing 48 pct of the full-year revenue target, the China Economic Times reported, citing Liu Andong, a China Post director.

The newspaper said China Post plans to increase its registered logistics subsidiaries to 20 in the first half, and further strengthen its cooperation with foreign partners, including Japan’s Mitsui & Co Ltd.

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Spain Tir To Invest 26 Mln Euro in Madrid, Valencia in 2003

Posted by | May 21, 2003 | |

Spanish freight forwarding and logistics group Spain Tir will invest 26 mln euro ($30.4 mln) in opening logistics centres in Madrid and Valencia by the end of 2003, Spain Tir president, Lluis Gay, said on May 20, 2003.

The company will choose one out of two logistics centres, which are currently being built in Madrid. It will operate the centre that will be completed first and will invest 21 mln euro ($24.6 mln) in the centre, Spain Tir added.

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Lithuania: Danzas and DHL couriers joining forces under DHL brand

Posted by | May 21, 2003 | |

The express and logistics companies DHL International Lithuania and Danzas have announced plans to merge into a single company under the DHL brand by the end of this year. Mindaugas Utkevicius, CEO of DHL International Lithuania, said in a news conference on Wednesday that the merger between the two companies owned by Deutsche Post World Net (DPWN), the world’s leading transport and logistics group, was part of the parent company’s strategy.

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UK Business Post lines up major takeover

Posted by | May 21, 2003 | |

Birmingham-based Business Post is in the final stages of acquiring a Midlands-based logistics company. Chief executive Paul Carvell, speaking as the company reported bumper annual profits, would not be drawn on the name of his target. But he confirmed the deal would be a large one for Business Post, require the ungeared company to take on debt and involve a Midlands-based company with a national coverage of ‘complementary’ services to the business parcel, courier and fledgling mail services offered by his company. While Business Post ran an eye over mail operations of Hays Group, which has its largest distribution centre in Nuneaton, it is not considering a bid, leaving the way open for Deutsche Post. Other candidates may include Willenhall-based Nightfreight, the heavy goods delivery company that was taken private at the start of 2001 after aborted merger talks with United Carriers, now owned by French group Geodis.
Alternatively, Midlands-based Lynx, which was acquired by private equity firm Bridgepoint in 1997, is known to be on the market.

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MCA Becomes Maltapost Regulator on June 1st

Posted by | May 21, 2003 | |

The Malta Communications Authority is set to become the regulator for the postal sector. Legal Notice 124 of 2003, published in the Government Gazette, will bring into force all the provisions of the amended Post Office Act with effect from 1 June 2003. A discussion paper on the introduction of a new regulatory regime for the postal sector, issued on Monday by the MCA, has been welcomed by Maltapost. Maltapost chief executive officer, Robert Lake pointed out that the amended postal legislation would become effective on 1 June, and key implications have been identified and projects established to ensure compliance.

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Posten Sweden announces structural adjustments, renewal expenditures

Posted by | May 21, 2003 | |

“Mail volume has steadily declined since the mid-1990s. Today, the mail terminals are beset by overcapacity. Against the backdrop of Posten’s current financial situation, coupled with expectations of a continuing drop in mail volume, action must be taken to control costs,” says Bertil Nilsson, head of Posten Production. The Norrköping terminal will be phased out over a one-year period beginning October 2003. Posten will begin phasing out the Växjö terminal next year; the process will by completed by 2005 at the latest. Other measures will be implemented no later than 2005 to achieve peak annual savings of about SEK225 million.

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US mail discount move spurs flurry of inquiries

Posted by | May 21, 2003 | |

The price break that the Postal Rate Commission has recommended for Capital One Financial Corp. could pave the way for other issuers to trim costs on the billions of credit card solicitations they mail every year. The commission recommended May 15 that the Postal Service’s board of governors grant a special volume-based discount for Capital One. The governors are to vote June 2. News of the commission’s action, the first of its kind, spread fast. “We’ve heard from every credit card company we can think of,” said Mike Plunkett, the Postal Service’s manager of pricing strategy.

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