Tag: France

The MORY Group answers and strikes back daily “LES ECHOS” of June 18th

Posted by | Jun 18, 2008 | |

The MORY Group said is deeply chocked by the publication of wrong information, which could have very damaging consequences for the 7.000 employees and the 3.000 subcontractors working for the group. Above all it is surprising that the direction was never interviewed by the author of the article and that the so called “internal sources” are not identified.

BNP PARIBAS announced at the end of 2007 that they will put an end to this mechanism because it was difficult to refinance the acquisition of an own fleet.
This is why MORY appointed an expert to find the most appropriate substitute to the current financing mechanism within a reasonable period of time.
Today the solutions have been found: MORY has finalized a solution and struck a deal with GE Facto France. The document will be signed at the end of June.
Simultaneously the commitment of the other banks to support MORY has been confirmed. This will put an end to the mission of Maître Lessertois at the end of June.

The balance sheets of the MORY Group and his branch MORY Team have been always positive since the beginning of 2008, and that without the contribution of exceptional profits contrary to what has been written in the article. The results are in line with the budget, which is based on operational result of 13 million Euro for the whole year 2008.
We made the parcel service profitable again since the end of the year 2007 by raising the selling prices and charging a fuel surcharge.

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Good News for MORY announced by Alain Breau

Posted by | Jun 17, 2008 | |

Concerning MORY, which is the only company I know and about which I would like to talk, I have the pleasure to communicate two good news.

– The first one is that the MORY Group as a whole is clearly profitable from the beginning of 2008, which is probably not the case of many of our competitors, in this depressed economical environment. This is the result of the application of selling rates covering our costs and also of a fuel surcharge. It is due to the improvement of our quality and productivity.

– The second one is a 35 million Euro rise of our capital, to which all our shareholders especially the investment bankers BARKLAYS and BRIDGEPOINT subscribed. They now have 1/3 of the capital of the MORY Group; the majority of the capital is still controlled by the management.
Would financial institutions invest in a company, in which they see no future.

The conditions for MORY to continue as an independent and successful operator are met, even if it displeases envious competitors, especially those which existence is guaranteed by their share holders and not necessarily their efficiency.

Yours Faithfully
Alain Bréau

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GeoPost announces sales of 3.1 billion euros in 2007

Posted by | Jun 12, 2008 | |

In 2007, sales of GeoPost, subsidiary of the French La Poste Group and leader in the European BtoB express delivery market, topped the euro 3-billion mark. Its 2007 sales totalled 3.171 billion euros, an increase of 6.8% compared to 2006, on a like-for-like basis and at constant exchange rate.

GeoPost consolidated its position in Europe by acquiring Seur’s Santander franchise, in Spain, and reinforced its partnership with the leading express delivery company in Turkey, Yurtiçi Kargo, by acquiring a 25%-stake in the company. In South Africa, a new joint venture with the Laser group has enabled GeoPost to move into the country’s domestic express market.

GeoPost has expanded its international brand DPD into Poland, Benelux, Russia and the Baltic States. Thanks to its subsidiaries, leaders in their respective countries, and to a first rate DPD European transport network, GeoPost is today, in terms of sales, the third leading express parcel service provider in Europe.

Agreements signed with Air France /SoDeXi and Aramex have given GeoPost access to intercontinental routes.

Hence, in terms of volume, 2007 saw GeoPost confirm its position as the second largest express company in Europe – 528 million parcels delivered, in 2007 – for 300,000 customers.

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Seur franchise owners reportedly ready to sell

Posted by | Jun 4, 2008 | |

A group of Seur franchise owners is ready to sell their holdings which add to up to a majority stake in the leading Spanish parcels company, according to media reports. DHL, UPS and investment funds are reportedly interested but existing shareholders, including GeoPost, have the right to outbid them.

The group of franchisees represents 52 pct of the capital of the parent company, Seur SA, 65pct of the franchises by number, and generate 56 pct of gross profits, Spanish newspapers Expansión and El Mundo reported. The regional operators have jointly commissioned investment bank Arcano to seek offers for their shareholdings. International equity funds and multinationals such as DHL and UPS are interested parties, Expansión wrote.

The express parcels group has a complex, decentralised ownership structure comprising regional franchisees who also own small stakes in the parent company Seur SA. Seur has 85 franchisees in total controlled by 54 companies. More than 75pct of these owners are among the prospective sellers, according to the newspapers.

The largest single shareholder is GeoPost, the French La Poste subsidiary, which has built up a 19.6 pct stake in the parent company in recent years by gradually acquiring individual franchisees through the joint venture Seur-GeoPost.

In a company statement, Seur reiterated that the right of first refusal on any shareholder shares being sold meant that it would have preference over any outsider buyer as long as it matched their offer. The head office had not been officially informed by any shareholder that it wanted to sell its holding, it added.

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FedEx Express supports European trade growth with hub expansions in France and Germany

Posted by | Jun 3, 2008 | |

FedEx Express has announced two major European hub projects to meet the growing demands of European business—a major expansion to its European hub in Roissy-Charles de Gaulle, Paris, and a state-of-the-art environmentally friendly facility in Cologne.

The expansion at Roissy-Charles de Gaulle by September 2009 and the building of a major new facility at Cologne by spring 2010 will dramatically increase capacity at the two hubs—ensuring that FedEx Express can continue to provide a seamless service for customers who wish to access European and global markets while minimizing impact on the environment.

The European Commissioner for Economic and Monetary Affairs stated that in 2007 the European zone recorded its fastest economic growth rate since 2000, and that Europe was sharing in the benefits of the trend towards greater globalization. As manufacturers continue to move towards a global sourcing and production model, the demand for fast and reliable transportation services is increasing, and critical to the growth and success of European industry.

European trade performance brings greater business opportunities both within Europe, and in the global marketplace. FedEx continues to build its network across Europe to support this growth, with sustainable development of its hub facilities across the continent.

The relocation of FedEx Express main hub for Central and Eastern Europe from Frankfurt to Cologne will allow FedEx Express to create a state-of-the-art facility with the very latest environmental design to meet the rapidly growing demand for express services in Germany and Eastern Europe. As FedEx continues limited operations at the Frankfurt International Airport, the new facility will bring new jobs to the Cologne/Bonn region and further improve working conditions for employees.

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