Tag: France

FedEx Express to deliver broadest next-business-day service from Europe to the Eastern United States

Posted by | Sep 2, 2008 | |

FedEx Express has upgraded its next-business-day delivery service FedEx International Priority from Europe to major U.S. East Coast cities. Customers who had two-business-day service can now reach more than 3,500 zip codes in key markets along the U.S. East Coast overnight. Customers already enjoying next-business-day delivery service to this region benefit from later pick-up times of up to six hours.

To support the service upgrade, FedEx will launch a new westbound trans-Atlantic flight and fly a wide-body MD-11 freighter daily, Tuesday through Friday, between Paris, Charles de Gaulle Airport and Newark, N.J. The Europe-to-U.S. flight segment comprises part of the FedEx westbound ‘around-the-world’ flight, which enables FedEx to provide customers with access to key markets around the world with highly competitive transit times. The company will also introduce two new Airbus A310 flights, including flights originating from Barcelona and Budapest-Vienna, to offer customers in these areas later pick-up times for enhanced next-business-day service to the U.S.

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GeoPost sells Chronopost subsidiary Taxicolis to Flash Europe International

Posted by | Sep 1, 2008 | |

GeoPost has announced the sale of Taxicolis, a Chronopost subsidiary, to express operator Flash Europe International. This sale is part of GeoPost’s strategy to focus on its core competence of express parcel delivery.

Taxicolis, which employs around 250 people, specialises in personal delivery of express shipments as well as high-value health and breakable products within France. In 2007, it recorded total revenues of EUR 66 million.

Flash Europe International, present in 10 countries, has been providing express transport services, especially for the industry sectors such as automotive, health and banking and IT services, for about 25 years.

The new group is positioning itself as a European leader for urgent transportation with revenues of EUR 110 million, 320 employees in 10 different countries and operating capacity in 80 countries worldwide.

The acquisition would give Taxicolis a unique opportunity to establish itself on the European market in the sectors of healthcare and public services, La Poste said in a statement.

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France's La Poste plans to raise capital

Posted by | Aug 28, 2008 | |

France’s La Poste aims to raise up to euro3 billion (USD 4.43 billion) through a capital increase to finance its development ahead of the opening of the European postal industry to full competition in 2011, the state-controlled mail carrier’s chief executive said.

La Poste, Europe’s second largest mail carrier with annual sales of euro20.8 billion (USD 30.7 billion), plans to launch the capital hike in 2010, via either a sale of a stake in its capital to one or more institutional partners or a public offering of shares to retail investors and employees, Jean-Paul Bailly said at a news conference.

La Poste must first negotiate a change in its legal status from state-run enterprise to limited liability company, which is planned by the end of 2009, Bailly said.

“This morning I informed the board of directors of a plan to rapidly propose this project to the government,” Bailly said. La Poste needs approval from the government to go ahead with the plan.

In a statement, French Prime Minister Francois Fillon said the government would make a decision in the coming weeks.

Bailly said it was “premature” to say what share of La Poste’s capital would be sold to investors, or to speculate on the company’s valuation. French press reports last month suggested the company could be valued at around euro10 billion (USD14.8 billion) and that a 20 percent stake could be sold.

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Yurtiçi Kargo – GeoPost partnership becomes a regional force

Posted by | Aug 26, 2008 | |

Yurtiçi Kargo, through its partnership established in 2003 with GeoPost, Europe’s continues investments in Russia, CIS and Balkan countries.

The GeoPost – Yurtiçi Kargo partnership was established in 2003, and it enabled customers to send parcels to 230 destinations around the world. In the following year, the partnership has started organic growth across the neighboring region as it acquired companies in some countries, while establishing local partnerships through acquisition of major shares in others. The largest of the latter is Armadillo, a local and international parcel and logistics company in Russia. Further, GeoPost and Yurtiçi Kargo continued their growth within the CIS, starting with UVK the largest company in Ukraine. Meanwhile, in Kazakhstan, GeoPost and Yurtiçi Kargo have established a growing business without any local partner.

In March 2008, Yurtiçi Kargo and GeoPost have entered the Romanian market by acquiring the majority of shareholding of Pegasus, one of the most successful Courier and Express Parcel companies in this country through their partnership. Also, the partnership has started providing services in Bulgaria.

The GeoPost – Yurtiçi Kargo partnership has increased its incomes by 35 pct in the first half of 2008, as of end of June 2008; delivering around 25 000 parcels daily in Russia, Romania, Ukraine, Bulgaria and Kazakhstan.

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French unions aim to block La Poste privatisation

Posted by | Aug 21, 2008 | |

French unions are preparing to launch a campaign of protests to try to block changes in La Poste’s legal status which are widely seen as a first step towards potential privatisation of the postal and logistics group.

La Poste president Jean-Paul Bailly is due to present a plan to the government in September proposing a legal restructuring from an autonomous public sector organisation into a limited company (“société anonyme”). This would then enable the French government to float a minority stake in the company while remaining the major shareholder with ultimate control. French media reported in early July that La Poste is working on plans to float a 20 pct stake to raise EUR 2 – 3 billion to finance its expansion plans. This would give the company a valuation of about EUR 10 billion.

On July 22, La Poste signed a public service contract with the French government covering 2008-2012 confirming the company’s commitment towards four basic service areas and preparing it for total postal liberalisation in 2011. The contract included commitments to mail deliveries six days a week and mail delivery quality targets, the maintenance of 17,000 postal service points across France, and public access to banking services. The contract was seen as an effort to calm postal unions which have always strongly opposed opening up La Poste to private investors.

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