Deutsche Post World Net unit DHL said it will spend about 24 mln usd to set up a flagship headquarters for the express operations of its joint venture with China’s Sinotrans. DHL said in a statement that the investment in the new Beijing headquarters, to open in 2007, will push the commitment it has made to Greater China operations in recent years to over 900 mln usd.
Read MoreThe newspaper distribution arm of WH Smith could face a takeover bid from Germany’s Deutsche Post after the retailer’s chief executive, Kate Swann, announced plans to demerge the business and float it on the stock market, though no timetable was given. WH Smith considered selling its news distribution arm in 2001, when it came close to selling it to a private equity buyer. Deutsche Post considered a bid at that time and City analysts believe it could quickly renew its interest in the business. Private equity firms have also been tipped as potential bidders for the news division. It is one of three newspaper distribution businesses nationally, along with Menzies and Dawson Holdings.
Read MoreTNT is expected to complete acquisition of HOAU Logistics Group by the end of this year. TNT is buying HOAU Logistics, the biggest freight & parcels operator in mainland China, for USD 135 million, which is much higher than estimated CNY 900 million. The acquisition price was disclosed by Tian Yu, director general of the Jiamusi Municipal Merchants Bureau, at Heilongjiang Provincial Merchants Promotion Conference. However, TNT says any detail shouldn’t be disclosed now that it is in the process of acquisition at present. Ken McCall, CEO of TNT China, told journalists that TNT will increase its Chinese employees to 12,000-14,000 from existing 4,000-5,000 upon the completion of the acquisition.
Read MoreANC’s £3/4 million investment in its move to a new Swindon depot on the South Marston Industrial Estate is already paying dividends with new business being won at a faster rate than ever.
Read MoreDeutsche Post AG may deliver packages in more than 200 countries and territories, but it doesn’t look likely to deliver for investors soon. That is because the German delivery and logistics giant is stumbling in the market that matters most and where many of its investors reside: the U.S. Even though the Bonn-based company had predicted that its DHL Express USA unit would turn profitable by the fourth quarter of this year, management now says the unit probably will keep posting losses through at least 2007. Deutsche Post, which is losing roughly half a billion dollars a year in the U.S., also said recently that it would stop providing investors with quarterly guidance for its U.S. operations.
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