Year: 2005

Deutsche Post takeover of Exel approved by court meeting, shareholders

Posted by | Nov 16, 2005 | |

Exel PLC, the UK logistics group, said a scheme of arrangement that will see it taken over by Deutsche Post AG in an agreed 5.5 bln eur (3.7 bln stg) takeover has been approved at a court meeting and by its shareholders at an extraordinary general meeting. In addition, Exel said the US Federal Trade Commission has granted early termination of the pre-merger waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Read More

Marie-Christine Lombard, Group Managing Director of TNT Express, receives the insignia of Chevalier from the National Order of the Legion of Honour

Posted by | Nov 16, 2005 | |

TNT N.V.today announced that Marie-Christine Lombard, Group Managing Director TNT Express, will receive a distinguished award from the National Order of the Legion of Honour in a ceremony that will take place tonight. Alain Bréau, Co-President of the French Transport and Logistics Federation (TLF) and a Chevalier of the National Order of the Legion of Honour will present Marie-Christine with the insignia of Chevalier award, at the offices of the French Business Confederation (MEDEF) in Paris.

The award recognises Marie Christine’s achievement as one of the few women to lead a global group of this scale, something that was highlighted with her inclusion in the Financial Times’ list of Europe’s 25 top business women.

Read More

GLS to open 150 Parcel Shops in Belgium

Posted by | Nov 15, 2005 | |

General Logistics Systems (GLS) plans to open 150 ‘parcel shops’ in Belgium, the company said on November 15, 2005. The first parcel dispatch outlets will be open in Brussels, Ghent and Antwerp by the end of 2005. The company aims at having 100 parcel shops in Belgium by 2007. The outlets will be opened at the newspaper stores of local shopping centres. The company opened its first parcel shops in Germany in 1997. Currently it operates 2,500 outlets designed under the parcel shop concept.

Read More

US first-class stamp prices to rise by 2 cents on Jan. 8

Posted by | Nov 15, 2005 | |

The cost of mailing a letter will increase to 39 cents on Jan. 8. The Postal Service’s board of governors approved the two-cent increase in first-class postal rates late Monday. It is the first increase since June 2002. The cost of mailing a postcard will increase a penny, to 24 cents, as part of the roughly 5.4 percent, across-the-board hike in most rates and fees. The increase fulfills a requirement, passed by Congress in 2003, that the Postal Service establish a USD3.1 billion escrow account. Congress is to determine later how to spend that money. The Postal Service said without the mandate it would not have had to raise rates next year.

Read More

Deutsche Post unaware of reported US regulatory clearance for Exel deal

Posted by | Nov 15, 2005 | |

Deutsche Post AG said it is unaware of a reported decision by the US antitrust authorities to clear its proposed acquisition of UK logistics group Exel PLC.
The US Federal Trade Commission said in a notice posted on its website yesterday that US antitrust authorities had closed their review of the transaction without taking any action to block the deal, according to a news agency report. A spokesman for Deutsche Post said it expects to hear of the US antitrust decision in due course, but that it has not yet received any formal notification.

Read More

Belgian De Post/La Poste to cut capital to 270 mln Euro

Posted by | Nov 15, 2005 | |

Belgian postal service company De Post/La Poste plans to decrease its capital to 270 mln euro (USD315.7 mln) from 603.6 mln euro (USD705.8 mln), Bruno Tuybens, the Belgian Secretary of State for Public Enterprise, said on November 12, 2005, confirming media reports.

The capital reduction is a ‘routine accounting practice’, Tuybens added.

The move is not linked with the planned deal, in which a consortium led by Danish post office Post Danmark will buy a stake in De Post/La Poste, nor with the amount distributed by the postal company to the Belgian government, Tuybens said.

Read More

TNT unveils USD 2.5 million Gulf expansion

Posted by | Nov 15, 2005 | |

TNT Express has unveiled a USD 2.5 million expansion to enhance and expand its Gulf-wide ground infrastructure. The company is to open new road hubs in the UAE, Bahrain and Saudi next year as well as an additional trucking facility in Kuwait. This latest investment is a direct response to TNT’s rapid regional growth as the company focuses on improving its penetration across Gulf markets over the next five years. ‘Our non-document and road products are growing at 40% each year and have significantly contributed to annual revenue growth of over 30%. It is widely anticipated that these growth rates will prevail for another three to four years,’ said Mark Pell, TNT’s Managing Director, Gulf.

Read More

Minister ends hope of private capital for UK Royal Mail

Posted by | Nov 15, 2005 | |

Royal Mail chairman’s hopes of raising private investment for the organisation have been dashed by the Trade and Industry Secretary, who will use legislation to sanction shares only for employees. Allan Leighton had wanted to bring in investment in return for a 10 per cent holding in Royal Mail, in addition to giving a 20 per cent stake to its employees. However, Alan Johnson, the Trade and Industry Secretary, has told The Times that the Government would consider only employee ownership of the state-owned organisation in a share trust. Mr Johnson said that Mr Leighton had done “a tremendous job” at Royal Mail, but added: “Whatever idea he had, he understands completely that we will not privatise Royal Mail . . . We are looking at a share trust and that is the only thing we are looking at in terms of the ownership of the company.”

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest