TNT NV has completed 83.5 pct of its share buyback programme, the company said on March 29, 2006. TNT plans to cancel the repurchased shares. The company announced in December 2005 its plans to buy back own shares for 1.0 bln euro (USD1.2 bln). The company said then it expected the share buyback programme to involve 42.6 million shares and to take about four months. That period is now extended by one month.
Read MoreDHL Express plans to invest USD11 mln (9.17 mln euro) between 2006 and 2011 in improving its door-to-door service in Argentina, the company said on March 28, 2006. DHL Express offers that service in Argentina only to corporate clients at present. By 2011 DHL plans to offer the service in the main 150 Argentine cities.
Read MoreSince United Parcel Service Inc acquired trucking company Overnite Corp in August last year, its overall package volume increased 4.3% to 14.8 million per day. UPS purchased Overnite in a bid to tap into the trucking industry, where it has had limited success because of a 150-pound cap on its package trucks. As part of the assimilation, the Overnite brand will be replaced with UPS Freight starting May 1, while its 22,000 trailers will be painted with UPS’ trademark brown. The assimilation could help UPS in its battle with rival FedEx Corp. but complicates contract talks with the Teamsters union expected to begin near the end of next year.
Read MoreThe Czech unit of express delivery services provider TNT Express raised sales by 34 percent to EUR25m, or some Kc720m last year, CEO Petr Chvatal told a press conference today. The plan for this year hovers around Kc900m. The company wants to exceed the Kc1bn level in the near future, he added. TNT, which delivered the first consignment in the Czech Republic 14 years ago, employs 300 people and operates 150 cars at present.
Read MoreDHL has announced that it would release a new product to provide express delivery services for heavy goods of 50 to 150 kg.
It is part of DHL’s efforts to capture a larger share when the express demand is surging in China. In China, goods heavier than 40 kg cannot be delivered through the nation’s postal system.
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.
