Year: 2003

McGrath for Pallet-Track

Bradford-based McGrath Freighteam has become the first names member of the Pallet-Track network. Company MD James McGrath says: We have been offered pallet network membership in the past but we didnt feel that we had the right premises, behicles or staff in place to go ahead with other projects, but now we feel we have the right systems in place. The Working Time Directive was also a deciding factor.

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Rating agency Standard & Poor’s reviews Deutsche Post’s credit rating

The rating agency Standard & Poor’s (S&P) today downgraded Deutsche Post World Net’s credit rating for long-term liabilities by one level from A+ to A. The short-term credit rating of A-1 was confirmed. At the same time, the credit watch announced on 7 February of this year was cancelled. The reason for the downgrading lies essentially in the altered assessment of pension obligations financed by provisions. Contrary to previous practice S&P announced on 7 February that it classifies these provisions fully as liabilities. Together with other companies and external financial experts Deutsche Post does not share this opinion.

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Spanish MRW Opens 3.0 Mln Euro Logistics Centre in Lisbon

Spanish express courier MRW opened a 3.0 mln euro ($3.45 mln) logistics centre in Portugal’s capital, Lisbon, on May 12, 2003.

The logistics centre covers a 6,000 sq m area. It is equipped with latest technology, which represents a significant value added, MRW’s general director for Portugal, Pedro Mega, said. MRW posted a 10.25 pct year-on-year increase in turnover in Portugal for 2002.

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