Author: Archive

AN Post told to curb losses on overseas mail

Posted by | Apr 5, 2003 | |

An Post expects to suffer losses of about EUR12 million on international mail operations this year, with domestic mail customers subsidising the losses. The company’s delivery of international mail is governed by EU agreements, which mean it cannot charge any more than 31 cents per international letter. The regulator, ComReg, yesterday instructed the company to re-negotiate these agreements by July 7th. Last year the company lost EUR19 million because of the restrictions imposed by these international mail agreements.

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DHL: Airborne deal not contingent on DOT approval

Posted by | Apr 4, 2003 | |

DHL Worldwide plans to go ahead with its purchase of Airborne Inc. even if the U.S. Department of Transportation rejects the deal. If Airborne and DHL, which is owned by Deutsche Post World Net of Germany, cannot obtain DOT approval, DHL would acquire all of Airborne and then transfer Airborne’s freighter fleet to a third-party operator, according to James Valentine, an analyst with Morgan Stanley.

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Last post for mail in the Highlands; full service in rural areas 'impossible to maintain'

Posted by | Apr 4, 2003 | |

The head of the Royal Mail has warned Highlands and Islands customers that their full postal service may be scrapped. Allan Leighton, the organisation’s chairman, said a decision will be taken within the next 12 months to determine whether it will be able to continue fulfilling the same role at the same price as elsewhere in the country. However, Postcomm, the regulatory body, insisted last night that the Royal Mail’s Universal Service Obligation (USO) would have to continue.

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French post office unveils 5 year plan

Posted by | Apr 4, 2003 | |

Jean-Paul Bailly, chairman of the French post office (La Poste), yesterday announced plans to bring his organisation up to a level where it can compete with its German and Dutch counterparts, Deutsche Post and TPG respectively, by 2007. This strategy, which is intended to prepare La Poste for the liberalisation of the European postal sector, involves a 1bn-euro programme to modernise the French group’s mail-services division, including more than 600m euros for automation equipment.

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SingPost Launches S$300 Million Bond Issue

Posted by | Apr 4, 2003 | |

Singapore Telecommunications Limited (“SingTel”) today announced that Singapore Post Limited (“SingPost”), currently a wholly-owned subsidiary of SingTel, has launched a S$300 million bond issue. The unsecured bonds will have a maturity of ten years with a coupon of 3.13 per cent per annum payable semi-annually with an issue price of par. The issue, which will be fully underwritten, is jointly lead-managed by The Development Bank of Singapore Ltd and UBS AG, acting through its business group UBS Warburg.

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New non-executive director appointed to Royal Mail UK

Posted by | Apr 4, 2003 | |

Bob Wigley has been appointed as a new Non-executive Director to Royal Mail. He will take up the post this month.

DTI Minister Stephen Timms said: “Bob Wigley will be a welcome addition to the new Royal Mail management team. His appointment is part of a major push to strengthen the leadership at Royal Mail. The company stands to benefit from his considerable experience.”

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Ascom & Neopost Announce the Closing of Ascom Hasler

Posted by | Apr 4, 2003 | |

Ascom, the internationally active Swiss high-tech Group and Neopost, the number two world-wide supplier of mailing solutions, today announced the closing of the acquisition of Ascom Hasler, the number three world-wide supplier of mailing systems. Following the closing of Ascom Hasler North-American operations on February 28, 2002, this is now the second and last step of the transaction that is being processed, with the acquisition of Ascom Hasler’s operations outside North America.

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TPG acquires German unaddressed mail distributor blitzpunkt

Posted by | Apr 3, 2003 | |

TPG has acquired a 100% stake in blitzpunkt GmbH (blitzpunkt), an unaddressed mail distribution company based in eastern Germany. blitzpunkt had revenues of around EUR 10 million in 200. It delivers 355 million leaflets and 19 million free newspapers per year. The company gives TPG Post access to 8,000 round-based deliverers offering full coverage to over 1.9 million households in the Saxony and East Thuringia(Gera) regions in the former East Germany. The acquisition also establishes a stepping stone for further regional expansion.

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