Tag: Courier/Express/Parcels

FedEx sets up 2nd operating station in Yizhuang, China

Posted by | Jan 30, 2004 | |

The first joint venture in China for the US-based FedEx with the Tianjin-based Datian W. Air Service Corporation, announced that the second ground operating stationat Yizhuang, Beijing, had officially started working. FedEx is the world largest express transportation company. This ground operating station was built at Yizhuang developmentzone in Beijing, occuping 1,500 square meters, and equipped with 25 express transporting vehicles.

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Sinotrans in deal for Fujian lead

Posted by | Jan 30, 2004 | |

Hong Kong-listed Sinotrans, the mainland’s logistics giant, has further expanded its freight-forwarding services in southeastern China by buying a controlling interest in Fujian’s largest firm.

A source said that Sinotrans will acquire 75 per cent of Greating Group, wholly owned by Hong Kong Crystalray Holdings, for a sum believed to be less than 10 million yuan (HKD9.38 million).

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FedEx board of directors to propose bylaw amendment

Posted by | Jan 30, 2004 | |

The Board of Directors of FedEx will submit to stockholders a proposal to amend the corporation’s bylaws that will require each director to stand for election annually. Currently, the corporation’s bylaws divide the Board into three classes with directors elected to staggered three-year terms.

Stockholders will vote on the Board’s declassification proposal at the next FedEx annual meeting in September 2004. Approval of the proposed bylaw amendment will require an 80 percent stockholder vote.

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Strong volume growth propels UPS to record quarterly profit

Posted by | Jan 29, 2004 | |

Led by strong volume gains both in the United States and overseas and significant margin improvement within its international operation, UPS has reported a 19% jump in adjusted net income for the fourth quarter after excluding certain items that affect the year-ago comparison. The quarter’s performance capped a record year for volume. UPS delivered 3.44 billion packages in 2003, or an average 13.64 million per day.

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UPS Q4 sales rise but net earnings fall

Posted by | Jan 29, 2004 | |

UPS has said that fourth-quarter sales improved from last year as the recovering economy led to greater demand for the shipping giant’s services.

Shares of UPS closed up 7 cents at USD72.51.
Fourth-quarter earnings totaled USD856 million, or 75 cents per share, down from its year-ago profit of USD1.5 billion, or USD1.32 per share. The year-ago fourth quarter included a net gain of USD832 million as a favorable settlement with the IRS offset a restructuring charge. Excluding items, UPS earned USD670 million, or 59 cents per share, in last year’s equivalent period.

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