Tag: Europe

Amtrak Express Parcels looks to a bright future under new ownership

Posted by | Jun 29, 2007 | |

The Amtrak Express Parcels business has moved into new ownership following events over last week when the company, Amtrak Express Parcels Limited was placed into administration. Amtrak was sold earlier last year by 3i to a US-based investment company and Amtrak had been looking for a buyer or refinancing in recent months.

Ownership of Amtrak changed hands at the end of last summer, but the company suffered financial difficulties during the autumn and early winter trading, and had been seeking a refinancing in recent weeks.

The deal represents a landmark for the company, bringing ownership back into the transport and logistics market for the first time since 1998. The new owners Netfold Ltd represents one of the industries most experienced management teams with a solid background in the express parcels, freight and logistics business sectors. The sale was concluded by KMPG and the business will continue to trade under the Amtrak name.

Following the acquisition the new owners have confirmed that it is business as usual and that all existing employee contracts have been transferred to the new company. Amtrak has a turnover of GBP80m with nearly 1000 employees and a 2000-strong fleet of commercial vehicles. As well as a national operational centre in the West Midlands, the company has a regional hub in Warrington and an administration office in Bristol. There are 80 owned and franchised depots across the country.

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TNT Express discusses strategy to combat climate change

Posted by | Jun 29, 2007 | |

Speaking at the CSR Summit in Dubai, Mike Patrick, Director of CSR, TNT Express said that there is a need for regional corporations to implement and integrate a sustainable and environmental stewardship program into their CSR strategy to combat climate change, AME Info reports.

Patrick said that the B2B delivery company’s main target is to reduce CO2 emissions by developing eco-friendly products, vehicles and buildings, cutting down on business travel by 30 percent, and developing a sustainable aviation strategy.

TNT has already, according to Patrick, taken steps to implement the International Environmental Management certificate, ISO 14001, in each of its locations by end of 2007, which in some countries has already reduced paper costs by 80 percent, electricity costs by 15 percent and recycling costs by 10 percent.

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Norfolk based Star Transport has joined PalletFORCE

Posted by | Jun 29, 2007 | |

Norfolk-based transport company Star Transport has joined PalletFORCE, one of the country’s fastest growing palletised distribution networks, in the long-term interests of the company and its customers.

Star was previously a member of another network for nine years, but decided the timing was right to switch networks. Although Director Howard Marriott looked at a number of replacement networks, the PalletFORCE name came up repeatedly through word of mouth from contacts in the industry.

“PalletFORCE clearly has an excellent reputation,” Howard Marriott explained. “By what other hauliers have said, the Network is quick to resolve any problems and cares enough to really look after its members. And because it is owned by those members, there is an added incentive for everybody to pull together in the interest of delivering top-quality service.”

Star agreed to become a Shareholder Member Depot for parts of the IP and NR postcodes after meetings with the Network confirmed this opinion. Since joining, Marriott says, “first impressions have been very good.”

A family-owned business with over forty years of experience, Star operates out of a 40,000 sq ft depot in Thetford. Its sixty-strong fleet comprises a mix of rigids and 44 tonners.

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Commerzbank interested in takeover of Postbank

Posted by | Jun 29, 2007 | |

Shares of Deutsche Postbank, which has more clients than any other German bank, rose sharply Thursday after Commerzbank said it would be interested in a takeover.

Postbank shares jumped as much as 5 percent, their biggest gain since Dec. 20, 2005, and closed up euro 2.18, or 3.5 percent, at euro 63.93 in Frankfurt. Commerzbank shares gained 60 cents to close at euro 34.95.

”If it were possible to buy Postbank, we would immediately snap it up,” a Commerzbank management board member, Wolfgang Hartmann, said in an interview late Wednesday. ”Unfortunately, Deutsche Post AG isn’t ready to sell at the moment.”

Commerzbank, which lost out in the bidding for Landesbank Berlin Holding earlier this month, is looking to expand further domestically after buying the mortgage bank Eurohypo in 2006. The Deutsche Post chief executive, Klaus Zumwinkel, said last month that the company does not plan to sell its majority stake in Postbank.

”A combination of Commerzbank and Postbank would create a very strong player in retail, commercial banking and real estate,” said Thomas Rothaeusler, an analyst at Sal Oppenheim in Frankfurt. ”It would also probably be a preferred option for Germany, from a political point of view.”

The German banking industry is dominated by state-owned lenders, which control about half of the market and cannot be bought by private competitors.

As European banking consolidation accelerates, publicly traded German banks are being left further behind in terms of their market share.

Commerzbank has 5.2 million clients in Germany, while Postbank has about 14.6 million.

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