Tag: Deutsche Post

Deutsche Post's DHL buys Singapore facility for 38 million Singapore dollars (USD 26.49 million)

Posted by | Jan 2, 2008 | |

DHL said it has bought a cargo transshipment facility in Singapore from Singapore Airport Terminal Services (SATS) for 38 million Singapore dollars.

The facility has been operating under lease from SATS since 2001.

The facility, which sits on an 18,000 square meter site, is capable of processing 5,300 shipments per hour at its peak and is expected to increase its cargo handling capacity to more than 11,000 shipments per hour by 2011.

“Our infrastructure in Singapore is an important link in our network of express hubs in Asia Pacific, and owning the building allows for future expansion as trade flows increase,” said Stephen Fenwick, DHL Express’ senior vice president for operations in Asia Pacific.

DHL’s hubs in Asia are in Bangkok, Hong Kong, Incheon, Shanghai and Sydney.

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Deutsche Post CFO says minimum wage to have 'no immediate effect' on costs

Posted by | Dec 21, 2007 | |

Deutsche Post World Net AG’s Chief Financial Officer John Allan said a minimum wage for postal workers recently approved by Germany’s government will have ‘no immediate effect’ on the company’s cost structure.

‘We pay at least this wage level throughout the German mail services business,’ he told a company newsletter in an interview.

The upper house of Germany’s parliament yesterday approved the introduction of a minimum wage at 8.00-9.80 eur per hour for postal workers. The minimum wage is expected to hurt primarily Deutsche Post’s smaller competitors.

And commenting on government plans to liberalize the letter mail market next year, Allan affirmed Deutsche Post’s previous statements that liberalization could lower earnings before interest and taxes by 10-20 pct.

Allan also brushed off concern that a possible abolition of Deutsche Post’s exemption from German value-added tax could hurt results.

‘There is no reason for us to speculate about any consequences as there’s no evidence whatsoever that we would lose the exemption,’ he said.

Under current rules, Deutsche Post’s basic postal services are exempt from the 19 pct VAT while comparable services provided by rivals are not, even after Deutsche Post’s monopoly on delivering letters expires at the end of the year.

Deutsche Post obtained the exemption in exchange for the guarantee that it will deliver mail to every household in Germany.

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Restriction for postal licenses lifted

Posted by | Dec 20, 2007 | |

Kurth: “The formal foundations for further competition have been laid”

On 31 December 2007 the monopoly of Deutsche Post AG for letters with a maximum weight of 50g comes to an end. In a general order published in its Official Gazette on 19 December 2007, the Federal Network Agency has therefore lifted all material restrictions of the licences, such as the obligation to provide higher quality for letters weighing less than 50g. From 1 January 2008 all licensees – including Deutsche Post AG – can then offer all mail services in their license areas and are free to decide about the configuration of their services at their own discretion.

“With this general order we are laying the formal foundations for further competition in the postal market, without much bureaucratic effort. This will prepare the way for creative business models and flexible solutions. A realistic analysis and assessment reveals that the liberalisation of this market definitely offers opportunities for a further development of competition – despite the controversial debates of recent weeks,” emphasised the president of the Federal Network Agency, Matthias Kurth.

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Upper house of German parliament approves postal minimum wages

Posted by | Dec 20, 2007 | |

The upper house of Germany’s parliament has approved the introduction of minimum wages to the postal industry, a move the lower house and the cabinet have already approved.

Minimum wages of 8-9.80 eur per hour, as agreed by services union ver.di and an employer’s association dominated by incumbent Deutsche Post World Net AG, are now mandatory at Deutsche Post’s competitors.

Axel Springer AG decided to write down the value of mail services unit Pin Group by up to 620 mln eur after the lower house of parliament approved a minimum wage and after financing talks with its other owner failed.

The German states are represented in the upper house of German parliament.

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