UPS, the US parcel delivery group, is looking for acquisitions in the consolidating European market, according to Mike Eskew, its new chairman and chief executive.
“We are going to be opportunistic and strike when we need,” Mr Eskew said in an interview at the World Economic Forum in New York. “We will look for goods, information and funds-type acquisitions.”
BAX Global recorded its first operating profit in two years during the fourth quarter of 2001 despite a 17% drop in revenue.
Read MorePromoting effective competition in UK Postal Services
Read MoreThe German post office is likely to apply for a licence to collect business mail in the UK following the publication of plans to open the market to competition.
Deutsche Post is the largest in a group of postal and distribution companies thought to be queueing to enter previously closed parts of the UK market now that the regulator, Postcomm, is to end the postal delivery monopoly held by Consignia, formerly the Post Office.
Germany’s Regulatory Agency for Telecommunication and Posts (RTP) plans to introduce a new price-capping procedure to address concerns about the pricing policy of postal services group Deutsche Post AG, Handelsblatt has learned.
RTP vice-president Gerhard Harms said the details of the procedure, the conditions that must be followed, will be decided shortly. The approval for current prices runs out at the end of 2002.
Lazard, the investment bank, has been hired by the government to advise on the restructuring of Consignia, the renamed Post Office. The bank’s mandate is to review the restructuring plan put forward by Consignia’s board. It will also advise the government on companies that bid to take over parts of the post-office operation.
Read MoreWith immediate effect the London-based Exel group has taken over the distribution of products and additional logistics services in Western Europe for the leisure electronics giant Matsushita Electric Industrial Co. Ltd of Japan (MEl) and its famous brand name Panasonic. Central organisation is handled through the Exel distribution facility at Veghel (Netherlands). which coordinates and handles processes all over Europe.
Read MoreThe globally operating US transport and logistics group U-Freight has acquired a 50% stake in Shanghai Rijin International Freight Co. Ltd., thereby strengthening its presence in China.
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