Tag: Europe

An Post needs to repeat recent business success

Posted by | Mar 21, 2005 | |

Business Opinion: Something very unusual happened last Thursday. An Post, arguably the most calamitous of our State-owned companies, managed to do a bit of sound commercial business.

Its two overseas mobile phone top-up companies managed to command a purchase price of €85 million in a transaction with Alphyra. An Post originally bought the companies for €8.5 million in 2002 and has only pumped €7.5 million into them since then. So, based on these figures, a tidy profit of €69 million will now flow into its coffers.

For a company which has been reeling from negative news for so long, the latest deal must come as something of a relief for embattled chief executive Donal Curtin.

While it would be dangerous to predict a sustainable recovery just yet, the money will certainly provide An Post with a reasonable fund for paying off departing staff.

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Kaare Frydenberg steps down as CEO of Norway Post

Posted by | Mar 21, 2005 | |

Kaare Frydenberg has resigned from his position of chief executive officer at Norway Post. The Board of Norway Post has now started a process to recruit a new chief executive officer. Kaare Frydenberg announced his resignation after serving five years as chief executive officer at Norway Post. He is leaving a company that has undergone major restructuring and has succeeded in becoming competitive and profitable. Mr Frydenberg will continue as chief executive officer for six months – working out his period of notice – after which time he currently has no specific plans.

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French La Poste to sell 70 pct of TAT Express

Posted by | Mar 18, 2005 | |

French national post office La Poste announced its plans to sell up to 70 pct of the share capital of its subsidiary, express freight transport company TAT Express, to an unnamed French company, it was reported on March 17, 2005. The French trade unions had been informed for this decision at an extraordinary works’ council dedicated to the opening of the capital of TAT Express on March 10, 2005. TAT Express launched a restructuring plan in December 2003 which led to 200 job cuts and modification of the work contracts of another 200 company employees. TAT Express reduced its agencies in France to 33 and generated a 150 mln euro (USD200.5 mln) turnover for 2004.

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German Hermes to increase number of outlets to 11,000 in 2005

Posted by | Mar 18, 2005 | |

German logistics services provider Hermes Versand, a subsidiary of mail order company Otto GmbH, plans to increase the number of its outlets to 11,000 in 2005 and get closer to the 12,000 of its chief competitor Deutsche Post, Hermes said on March 18, 2005. In 2004, Hermes snapped up 3.0 percentage points of the Deutsche Post share in the market for package deliveries to private clients and plans to have a 10 pct market share by the end of the current fiscal year, two years ahead of schedule, Hanjo Schneider, CEO of Hermes Logistik Group, said. The market, dominated by Deutsche Post and Hermes, has a volume of 60 million packages a year. According to Schneider, Hermes’ prices stand on average 25 pct below those of its larger rival.

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