Tag: Deutsche Post

Postbank completes integration of BHW and Deutsche Post branches ahead of plan

Posted by | Oct 4, 2006 | |

Deutsche Postbank AG successfully integrated construction bank BHW and 850 Deutsche Post branches into the parent bank on Oct 1, chief executive Wulf von Schimmelmann said.

This was ahead of the original target date of the end of the year.

‘This doesn’t mean that there isn’t anything left to do,’ Schimmelmann told reporters.

‘It will still take a bit of time until all the processes are fully streamlined and all the smaller bits have been take care of,’ he continued.

Postbank took over BHW and the 850 most profitable branches of Deutsche Post in January this year and added another 13,800 or so staff to its workforce of around 9,200.

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TNT re-emerges as possible takeover target

Posted by | Sep 29, 2006 | |

Dutch mail and logistics company TNT has become the subject of renewed takeover speculation after the European Union’s highest court ruled that the Netherlands is breaking the law in owning a “golden share” in the global mail and express delivery company.

The European Court of Justice said the government’s stake, which gives it veto power over TNT’s mergers and acquisitions, is incompatible with the free movement of capital in the 25-nation EU.

The Dutch government has held the stake since the 1980s when the former state-owned post and telephone company was privatized and split into a telecommunications group and a mail operator. The company subsequently expanded into logistics and express delivery.

TNT shares rose 3 percent immediately after the court ruling on speculation that the decision would make it easier for companies such as UPS, FedEx and Deutsche Post to take over the group. La Poste, France’s state-owned mail monopoly, also has been named as a likely suitor.

TNT was at the center of takeover speculation last November when Cornelius Geber, a former executive of Swiss logistics giant Kuehne & Nagel, said he was trying to organize a consortium to launch a bid.

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Deutsche Post to shift road cargo business into logistics division

Posted by | Sep 22, 2006 | |

Deutsche Post AG said it will shift its road cargo business, with about 4.0 bln eur in annual sales, to its Logistics division from the Express division.

The company said the move will make Deutsche Post more transparent for investors because the Express division’s business activities will be easier to compare with competitors.

The realignment means all air, sea and road cargo forwarding businesses will be grouped within the Logistics division.

In addition, the Express division will be led by one member of the management board instead of two.

John Mullen will head the division, while Peter Kruse will depart and become a special representative of chief executive Klaus Zumwinkel.

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Deutsche Post CEO wants to cut 150 mln eur from consulting budget

Posted by | Sep 17, 2006 | |

Deutsche Post AG chief executive Klaus Zumwinkel told company managers at a recent meeting he wants to cut more than 150 mln eur per year from the nearly 500 mln eur consulting budget, Frankfurter Allgemeine Sonntagszeitung reported without citing sources.

At the meeting, Zumwinkel encouraged managers to come up with innovative ideas without the assistance of external advisors, the newspaper wrote.

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RPT Deutsche Post's Petram wants to close smaller post offices after end-2007

Posted by | Sep 11, 2006 | |

Deutsche Post AG board member Hans-Dieter Petram told the Seuddeutsche Zeitung that mail carrier will be shutting down branches in smaller locations by the time the company’s monopoly falls in 2007/08.

He told the newspaper that the law that requires the national mail service to cover the majority of locations in Germany an ‘anachronism.’

‘Of course we will continue to deliver packages and letters to even the

smallest villages, but we don’t need to keep branches open in these areas to

sell a couple of postage stamps per day,’ Petram said.

If Deutsche Post is expected to keep open many of these locations, than the

government-regulated prices it charges will need to be looked at, Petram said.

The opening of the market at the end of next year will not necessarily bring

lower prices for customers, Petram added.

But should the government demand that postage prices be reduced, Deutsche

Post’s competitors, who are already active in market, would have serious problems.

‘They’re terribly afraid of this,’ Petram said.

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