Author: Archive

Deutsche Post World Net sells real estate portfolio to investor

Posted by | Apr 1, 2008 | |

Deutsche Post World Net announced that it has reached an agreement to sell a portfolio of real estate properties comprising about 1,300 assets located mainly in Germany to U.S. investor Lone Star in a cash transaction worth 1 billion euros.

Deutsche Post World Net is divesting real estate assets as part of its “Roadmap to Value” capital markets program presented in November. “We are very committed to the Roadmap to Value initiatives and this transaction again demonstrates our constant focus on quick execution,” said Chief Financial Officer John Allan.

Today’s transaction comes on top of some 350 million euros of real estate sales agreed since last November. The Group thus has already more than delivered on its pledge to generate at least 1 billion euros in cash from real estate sales by 2009. The all-cash sale price will be paid in several tranches with the largest share expected by year-end 2008. The agreement will have only marginal effect on Group EBIT and will not affect the 2008 earnings guidance.

Under the terms of the agreement, the transfer of the real estate assets will take economic effect as of July 1, 2008. Deutsche Post World Net will lease back the major part of the properties under an innovative lease agreement giving the Group immediate relief from excess space and flexibility going forward. The transaction will not lead to any changes for customers or employees.

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Post Office Ltd announces plan for Northern Ireland

Posted by | Apr 1, 2008 | |

Post Office Ltd today (Tuesday, 1 April) opened local public consultation on changes to the Post Office® network in Northern Ireland needed to meet Government requirements.

Proposals for the future provision of Post Office services have been published today and will remain open for consultation for six weeks until 12 May 2008.

Under the Northern Ireland proposals, 94.1 pct of the total population will see no change to their nearest Post Office branch.

The plan proposes future provision of Post Office services through a network of 492 branches, including 54 outreach outlets, while 42 branches would close. The number of branches in the network currently is 534.

Of the 492 branches that are proposed to remain open, 54 Post Office branches will be operated through a form of outreach service. These services will give customers continued access to Post Office services in their local communities on a regular basis without having to travel to another branch.

Possible types of outreach service include a mobile Post Office visiting small communities at set times; a hosted service operated within third-party premises for restricted hours each week (a local community centre, for example); a partner service within the premises of local retail partner (such as a shop), or a home service whereby customers can contact a subpostmaster by telephone for Post Office services.

Post Office Ltd is seeking views on the proposed future service provision in Northern Ireland including, in particular, views on access to Post Office services, the accessibility of alternative branches to those proposed for closure and the appropriate provision of outreach services.

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Gulf region to test RFID technology

Posted by | Apr 1, 2008 | |

In a project coordinated by Qatar’s postal authority, Q-Post and two other neighbouring Posts are testing various RFID (radio frequency identification) technologies to measure quality of service in the Gulf region.

Since the beginning of March, operators have been measuring transmission times for letter post between Qatar, the United Arab Emirates and Saudi Arabia, using RFID chips read remotely and without direct visual contact, by means of seven RFID readers or gates installed in mail processing centres.

The project aims to study the process for integrating and interconnecting two separate technologies via some “semi-active” and “passive” 4,000 chips concealed in test envelopes. The three-month project will provide specific information on the combined use of different technologies for the UPU’s global quality of service monitoring system. Eventually, this system will use RFID technology to measure the time taken by the destination country to forward incoming mail to the final delivery point. This will enable a link to be established between quality of service and the rate of remuneration of the destination countries for the mail.

At the Postal Operations Council in January, the Quality of Service Project Group decided to go ahead with this system and to focus on the interoperability of different technologies. Various standards will be defined this year, and the global monitoring system will enter its first pilot phase in 2009. It will then be extended to all UPU member countries. As well as being a helpful tool for calculating terminal dues, this system could be used by operators to improve mail flows.

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Grocery websites drive UK online sales growth

Posted by | Apr 1, 2008 | |

Sophisticated web offerings from the UK’s grocery retailers are driving the growth of internet retailing in this country, making it the fastest growing online market in Europe, according to a new report from Mintel.

The report found UK online sales were worth euro 18.5bn (GBP 12.8bn) last year, compared with just euro 13bn in Germany, the next largest market.

And the UK was also the fastest growing market with sales up by 75% since 2005.

“The UK has by far and away the most developed online market in Europe,” said Richard Perks, director of retail research at Mintel.

“The main reason for this is the sophisticated online offering of the UK’s food retailers and the fact that so many of us now more than happy to turn to the internet to do our weekly shop.”

Tesco is the largest online food retailer in Europe, says Mintel, with www.tesco.com more than twice the size of its nearest rival (www.ooshop.fr) run by Carrefour.

Meanwhile, the latest figures from IMRG Capgemini showed a record GBP 4.3bn was spent online during February 2008.

Beers, wines and spirits saw a rise of 38%, perhaps in anticipation of the higher alcohol taxes announced in March’s Budget.

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USPS steps up efforts to gain greater share from rivals

Posted by | Apr 1, 2008 | |

The U.S. Postal Service is stepping up efforts to wrest a bigger share of the parcel delivery market from its private sector rivals. And this time around, it’s trying a new tactic. In years past, the federal agency has typically challenged its competitors—FedEx, UPS, and DHL—on the basis of service (for example, by adding tracking and tracing capabilities for express and parcel shipments). Now, it’s attacking on another front: pricing.

Beginning May 12, the USPS will offer volume discounts for its Express Mail, Priority Mail, Parcel Select, and Parcel Return services. Thanks to the Postal Accountability and Enhancement Act of 2006, the independent agency is able to change its pricing structure to reflect what it calls “industry standard” practices.

For instance, Express Mail will for the first time use zone-based pricing, and customers who establish corporate accounts or pay online will receive a 3-percent discount. Commercial shippers who meet quarterly volume commitments could knock as much as 7 percent more off their bills. Parcel Select will offer volume-based pricing incentives to large and medium-sized shippers, and Parcel Return will now be priced by weight, which the USPS says will significantly cut prices for lightweight packages.

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Merger between Posten and Post Danmark

Posted by | Apr 1, 2008 | |

The Swedish Ministry of Enterprise, Energy & Communications, The Danish Ministry of Transport and CVC Capital Partners (“CVC”) have signed a letter of intent regarding a merger between Posten AB (“Posten”) and Post Danmark A/S (“Post Danmark”). The companies’ rationale is to meet the markets increasing challenges through an increased competitiveness of a merged company. This merger will also secure the possibility to maintain a first class mail and parcel business in both countries continuing to reach all enterprise customers and households.
The agreement entails a merger between both companies into a combined company which will be jointly owned by the Swedish state, the Danish state, CVC and the employees. The merged company will have annual revenue of approximately SEK 45 billion and include over 50,000 employees.

Fritz H. Schur., currently Chairman of Post Danmark, will be appointed Chairman. Erik Olsson, currently the CEO of Posten, will assume the position as CEO of the merged company. The parent company will be Swedish and the headquarters will be located in Stockholm. The Swedish state together with the employees of Posten will own 60 percent of the merged company and the Danish state together with the employees of Post Danmark and CVC will own 40 percent. As part of the agreement, Posten will distribute an extraordinary dividend of SEK 1,400 million to the Swedish state. In all other respects, the influence of the owners is balanced in such a way that the Swedish state will have equal voting rights as the Danish state and CVC together.

The merged company will be organised along specialised business divisions, in a similar way as Posten has been organised since January 1, 2007. The traditional postal business in each respective country will be operated as national entities adhering to national regulations and using the same brands as today (“Posten” and “Post Danmark”). The logistics businesses will be joined under one division and under an own brand. The information logistics and graphical business will be joined under the Strålfors brand in the merged company. Beyond the four main businesses, the company will comprise group functions and one unit for shared services. Post Danmark’s 25% ownership in De Post – La Poste (Belgium) will also be part of the merged company.

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Net Holding & TNT enter into associate partnership in Lebanon

Posted by | Apr 1, 2008 | |

The partnership and extension of the MERN fit in TNT’s strategy to be the No. 1 integrator in the intra-regional and intercontinental express flows. The combination of Net Holding’s 15 years experience in the Lebanese market, its entrepreneurial and innovative spirit and TNT’s complete suit of services make this a very promising partnership.

Jinendra Sancheti, TNT’s Regional Managing Director for the Middle East and Africa says: ‘We find Net Holding our perfect partner in terms of both business practice and culture. We certainly believe Lebanon is a worthwhile and positive investment and is well placed with our plans of becoming No 1 in the regional and emerging markets.’

Through this partnership TNT now offers the widest choice in standard morning delivery services to business in Lebanon, 9:00 Express, 12:00 Express, Global Express, Economy Express, Receiver Pays, Air freight services and Road Haulage. TNT’s MERN is one of the most extensive road delivery networks in the Middle East. Customers of TNT can now benefit from the fastest daily, time definite by road door to door customs cleared express delivery transit times in the Middle East.

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Homeowners waste millions buying mortgage lender’s life cover

Posted by | Mar 31, 2008 | |

Financially stretched homeowners could be overpaying by GBP 310 million every year by taking out life insurance with their mortgage provider, which many mistakenly believe is compulsory.

A study by the Post Office reveals that over a third (34 per cent) of people completing a mortgage application bought life insurance through their mortgage provider, which could be costing them an additional GBP 2000 each.

Confusion appears to be the main reason for people choosing to take out life insurance this way; 35 per cent said they felt pressured into buying it, or believed it was compulsory to purchase life insurance with the same provider.

Over half (54 per cent) of respondents said it was simply more convenient to arrange their life insurance and mortgage together, despite the fact they could be wasting hundreds of pounds by failing to shop around.

Worryingly, it seems many people are actually aware they are not getting the best deal, as only 16 per cent said that their mortgage provider offered the best value on life insurance.

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