Tag: Europe

Nightspeed integration boosts Amtrak’s turnover to £100m mark

Posted by | Sep 11, 2007 | |

Amtrak Express Parcels has completed the integration of overnight parcel carrier, Nightspeed, which Amtrak acquired in 2005. The move has seen Amtrak’s turnover increase to £100 million, and its customer base increase to 8,500 customer accounts.

The expanded Amtrak business now incorporates 25 former Nightspeed locations with a network of 100 depots.

Amtrak has retained the Nightspeed name for specialist services not previously offered by Amtrak, including the high security overnight delivery service – Nightspeed Secure Express.

The integration has enabled Amtrak to re-structure its network to improve regional coverage, with a number of new regional depots and a new North West of England hub to handle extra capacity. The Amtrak commercial vehicle fleet has also been expanded, and now includes 2,000 delivery vans.

The Nightspeed acquisition has boosted Amtrak’s presence in a number of key B2B sectors, providing additional volumes that compliment Amtrak’s home delivery services.

According to Amtrak CEO Jonathan Smith, this is the first time two UK parcel networks have been fully integrated.

“We could have taken an easier route but we wanted to create a bigger and stronger business by building on Nightspeed’s strengths,” said Smith. “Now that the integration is complete, we can capitalise on the business potential that was so evident at acquisition. The integration has not only given us a boost in capacity and an increase in volumes, but also entry into some appealing new markets such as high security express services and government mail.”

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TNT not planning to cut thousands of jobs

Posted by | Sep 10, 2007 | |

TNT NV said it has no intention of cutting more than the 6,500-7,000 jobs previously announced as part of its cost-cutting program.

TNT spokesman Pieter Schaffels said that media reports claiming TNT may cut thousands of additional jobs do not reflect its intention with regard to its savings plan and upcoming labor talks.

‘We already made it clear in April that we see two scenarios for reaching our target of 300 mln eur in savings,’ spokesman Pieter Schaffels said.

He said TNT still prefers the first scenario, in which job losses are capped at 6,500-7,000 while collective labor agreements are adjusted for additional cost savings. The company has said that in this scenario, it will minimize forced lay-offs.

However, if agreements cannot be reached with unions regarding wages, overtime pay, pension costs and other issues, Schaeffels confirmed that a second scenario could result in up to 11,000 job losses.

‘That is not our preference,’ the spokesman said, adding that it is premature to discuss job losses ahead of key negotiations with unions, noting that ‘to an extent, the ball is in the unions’ court’.

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Cabinet approves sale of Maltapost shares to Lombard Bank

Posted by | Sep 10, 2007 | |

The Cabinet yesterday approved the implementation of the second of three stages in the privatisation of Maltapost, which is the transfer of 25 per cent of the Government’s shareholding to Redbox Ltd, a wholly-owned subsidiary of Lombard Bank plc. As a result of this transfer Lombard Bank plc will effectively become the majority shareholder in Maltapost plc with 60 pct of the shares.

Government said the agreed price for the shares was Lm 1,217,585 (EUR2,836,210). This represented a 50 per cent premium over the net asset value of the shares based on the last audited accounts of the company. Based on the average profits of Maltapost in the past three years, the price represents a price to earnings ratio of 68. So, apart from believing that this step was strategically important for the company, Government also believes that the agreed price is an advantageous one.

The Cabinet also approved the proposal by Investment, Industry and IT Minister Austin Gatt that Maltapost plc should be fully privatized.

Government shall, in the coming months, initiate the process for selling the remaining 40 per cent of its shares via an Initial Public Offering on the Malta Stock Exchange.

Government believes it should not operate in commercial areas which are best left to the private sector.

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Royal Mail Talks End – No Agreement

Posted by | Sep 10, 2007 | |

As private talks between the CWU and Royal Mail officials come to an end, somewhat unexpectedly, no deal has been reached.

Royal Mail saw significant losses this year after many of its large customers moved their sorting requirements to rival mail handlers, and the losses look set to continue as Royal Mail is left effectively holding the baby – the Universal Service Agreement, Britain’s backbone final mile postal deliveries.

More disturbing perhaps is that whilst Royal Mail struggles to stand its ground after mail liberalization was effectively bulldozed through, there seems to be a hardcore of postal workers that are convinced that working to their times (a more acceptable way of saying ‘work to rule’) will see some divine presence appear from the blackness (presumably in the shape of Gordon Brown) and save them all.

The CWU have lost the battle so far and no amount of strikes or working to rule are likely save jobs or see any big pay rises in a business that is seeing large chunks of its most profitable work eaten up by rivals. It either works smarter and more efficiently or it fails. The likelihood of Royal Mail being broken up to maintain the Universal Service and allow Royal Mail to compete for business mail seems greater than ever.

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Royal Mail and CWU push back talks deadline

Posted by | Sep 10, 2007 | |

The direct mail industry is on tenterhooks, following the extension of the 4 September deadline for talks between the Communication Workers Union (CWU) strike and Royal Mail.

Following four weeks of talks, in which strike action was suspended, this recent round of negotiations has been given until 9 September to broker a deal.

The extension until Sunday will then be followed by a further meeting on Monday. Neither party is commenting on the progress of the talks until then.

CWU campaign manager John Colbert told printweek.com: “There is a complete communications ban concerning these talks until Monday at the earliest.”

This summer’s strike action was a response to the Royal Mail’s modernisation plan and disrupted mail deliveries across the country and further action will cause more misery to direct mail companies.

The CWU claims Royal Mail’s plans will result in a permanent reduction in customer services and is an attack on postal workers’ jobs, pay and conditions.

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