TPG, through its TNT Logistics division, has today announced the acquisition of ALS (Advance Logistics Services), an important player in the Italian Logistics and Transport market. ALS, with sales of € 209 million in 2000, reinforces TNT’s position in Italy and provides a strong European road network to support pan-European logistics solutions.
Read MoreThe Transportation Department on Friday rejected efforts by FedEx Corp. and United Parcel Service to strip competitor DHL Worldwide Express and DHL Airways of the licenses they need to deliver packages in the United States.
Read MoreJim Kelly, the chief executive of United Parcel Service Inc., said Friday that business conditions have shown some signs of stabilizing and UPS should be able to meet lowered earnings targets for the second quarter.
Read MoreChina: State Postal Bureau claims that foreign freight forwarders are
violating law that gives its Express Mail Service exclusive right to deliver
international express mail
Government reports that the U.S. economy grew by 2% in the first quarter of this year are misleading because 1.75% of that growth came from lower imports, according to Frederick Smith, chairman and chief executive of Federal Express Corp. Speaking at the Global Transport and Logistics Conference sponsored by Bear Stearns, Smith predicted that the gross domestic product figure would be revised downward. Smith attributed the downturn in FedEx volumes thus far to a slowdown in high tech, which accounts for a major share of FedEx’s business.
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