GeoPost UK is to invest GBP40m (EUR60m) over the next three years in new hubs for its Parceline and Interlink Ireland operations.
The Parceline facility, likely to be built in the Birmingham area, will operate in tandem with the existing Smethwick site and will double current handling capacity of 24,000 parcels an hour. Interlink Ireland’s dated hub in Athlone “will have to be rebuilt by 2006 at the latest,” CEO Kay Phillips told IFW.
Read MoreFedEx, reportedly will sign on June 2 a USD450-million deal to formally relocate its Asia-Pacific business hub to Clark Field, Pampanga from the Subic Bay Freeport in Zambales.
“The deal will be concluded when FedEx executives come to the country this Wednesday. We’re just finalizing the extent of the lot they will lease,” an official said, on condition of anonymity. The official also said China was still hoping to snatch the FedEx deal from the Philippines.
FedEx’s contract with Subic Bay Metropolitan Area (SBMA) lapses in 2007, and the Tennessee-based firm reportedly plans to move to Guangzhou.
Read MoreThe Board of Directors of FedEx Corporation have declared a quarterly cash dividend of USD0.07 per share on FedEx Corporation common stock, an increase of USD0.01 per share over the previous dividend payment. The dividend is payable July 1, 2004 to stockholders of record at the close of business on June 10, 2004.
Read MoreSweden Post today announced that it has entered into an agreement to sell its Baltic-, Poland- and Russia-based parcel delivery and logistics business operations to Geopost, a wholly owned subsidiary of La Poste. Posten AB partly owns the parcel delivery and logistics companies in Poland and Russia and wholly owns the Baltic businesses. The transaction, a consequence of the new board-sanctioned strategy, will positively affect Sweden Post’s net income and cash flows.
Read MoreUnited Parcel Service Inc. and a union for 2,500 pilots at the company’s airfreight operations have stepped up the pace of bargaining on a revised labor agreement, according to UPS and the union.
Both UPS, the world’s biggest package carrier which struck a six-year contract in 2002 with the Teamsters union covering drivers, and the Independent Pilots Association have reported progress in the talks on secondary matters.
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