Tag: Courier/Express/Parcels

India has potential to match booming China business, FedEx says

Posted by | Nov 24, 2004 | |

FedEx Corp. says its business is expanding strongly across Asia and that India could eventually yield as much business for the world’s top air-express company as China already does. “It’s not just China. You’ve got the whole of the region that’s growing in the strong double-digit range,” said David Cunningham, FedEx’s Asia-Pacific president. The company, which vies against US rival United Parcel Service Inc. and Deutsche Post AG’s DHL Express, has posted explosive growth in its China operations in recent years.

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3,800 UPS workers strike in Canada

Posted by | Nov 23, 2004 | |

About 3,800 United Parcel Service workers in Canada went on strike yesterday, refusing the shipper’s new collective bargaining agreement offers, according to Teamsters Canada. UPS said it would deliver all packages already in transit but suspended all customer pickups within Canada as well as ground shipments into the country. The Canadian employees’ contract expired July 31. UPS met with the union during the past five months, and Canadian Teamsters management entered into a handshake agreement about a month ago.

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Blue Dart arm sale cleared

Posted by | Nov 23, 2004 | |

Following DHL Worldwide’s proposal to acquire 68 per cent equity stake in Blue Dart Express, the company is hiving off its aviation business into a separate entity to avoid violation of foreign equity investment norms. According to foreign equity participation norms, foreign airlines are not permitted to pick up equity, directly or indirectly, in domestic air transport services. Courier and express company Blue Dart Express has approved the sale of its 100 per cent subsidiary Blue Dart Aviation to its promoters Tushar Jani and Khushroo Dubash.

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Winestock to succeed Darden in directing UPS’s US operations

Posted by | Nov 22, 2004 | |

UPS today announced changes in its top management, including the upcoming retirement of the executive responsible for all package operations in the United States. Cal Darden, for the past seven years the senior vice president of US operations and a member of the UPS Board of Directors since 2001, will retire in early 2005 after a 33-year career with UPS. UPS Chairman and CEO Mike Eskew announced Darden would be succeeded by Jim Winestock, currently the manager of UPS’s North Central Region. That region includes six states in America’s heartland with 244 facilities and more than 51,000 employees. In succeeding Darden, Winestock will join the UPS Management Committee, which directs the day-to-day management of the company.

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Blue Dart to sell stake in aviation arm to enable takeover by DHL

Posted by | Nov 22, 2004 | |

Courier company Blue Dart Express has decided to divest its stake in its wholly-owned subsidiary Blue Dart Aviation Ltd in order to facilitate the acquistion of the parent company by global logistics major DHL Express. The company said in a notice issued to BSE: “The board of Blue Dart Express Ltd has approved the divestment/sale of equity shares of Blue Dart Aviation Ltd, being its wholly-owned subsidiary company up to 100percent of the equity share capital.” Under the foreign direct investment (FDI) guidelines for the aviation sector, the foreign holding in airlines has been capped at 49percent. DHL, which has inked a deal to buy a 68.2percent stake in the company for Rs 566 crore and announced an open offer for another 20percent would have exceeded this cap by virtue of its shareholding in the parent company.

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