THE GOVERNMENT has ordered Consignia to abandon its attempts at further overseas expansion after the failure of its merger talks with the Dutch postal giant TPG, it emerged yesterday.
Douglas Alexander, the Industry minister with responsibility for Consignia, told MPs that the state-owned company’s priority in future would be to concentrate on its loss-making domestic operations with the aim of returning them to profitability.
One year has passed since the launch of Prime Minister Junichiro Koizumi Cabinet in April last year. Since that time he has been trumpeting his reformist goals, saying, “There will be no growth without reforms.”
However, Koizumi’s reform campaign appears to have had the rug pulled out from underneath it, and under the circumstances, his reform efforts could be labeled a failure.
7 May 2002 – Air menzies International has acquired the Wyng group. The last recorded turnover of Wyng Roadflight was £4.5m and its largest customer is Emirates Airline for whom it carries out UK ground handling
Read MoreMore than 8,000 additional full-time jobs will be cut by the Postal Service this year as the agency struggles to contain its losses in the face of declining business. Postmaster General John Potter said Tuesday that a total of 20,000 career positions are being eliminated this year, all through attrition. About 11,800 positions have been cut so far.
Read MoreEfiposte, the subsidiary of the French national post office (La Poste) which manages the funds collected by the group, including those in postal current accounts, has announced consolidated net profit of nearly 27.9m euros for 2001, compared with 6.3m in 2000, the company’s first financial year which lasted only nine months.
Read MorePostmaster General John E. Potter today said the Postal Service faces a projected net loss of approximately $1.5 billion in fiscal year 2002, with mail volume for the year expected to drop some six billion pieces below last year’s total. Despite the magnitude of this decline, Potter said cost-containment actions taken by the Postal Service have reduced this estimated net loss well below earlier projections that ranged as high as $4.5 billion.
Read MoreDeutsche Post World Net, part of the German postal services group, is hoping to use its 6 June AGM to gain shareholders blessing to buy back its own shares. The programme is designed to permit the repurchase of up to 10 per cent of its shares.
Read MoreEmirates Post has entered into a strategic business alliance with DHL to launch International Express. The move is aimed at improving the speed and reach of the postal service.
Abdullah Ibrahim Al Daboos, director-general of Emirates Post, said this was a long-term plan and more innovative products and services could be expected.
The move will enable DHL to expand reach through Emirates Post’s extensive UAE network, while giving Emirates Post access to the DHL organisation, which links 120,000 destinations in more than 220 countries.
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