Tag: Germany

Deutsche Post buys USD150 million stake in Atlas's polar air unit

Posted by | Oct 16, 2006 | |

Deutsche Post AG’s DHL express- delivery division plans to spend USD150 million for nearly half of Atlas Air Worldwide Holdings Inc.’s Polar Air Cargo unit, gaining access to extra aircraft in key markets.

DHL will pay cash to acquire a 49 percent holding in Polar, including a 25 percent voting interest, Atlas said today in a statement on Business Wire.

Bonn-based Deutsche Post, Europe’s largest postal service, has spent more than USD13 billion on acquisitions since 1996 in a quest to become the No. 1 logistics company in the world.

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Deutsche Postbank may tie up with Japan postal bank

Posted by | Oct 16, 2006 | |

Deutsche Postbank AG could consider a tie-up in a wide variety of areas with the postal savings bank to be created in Japan next year, the Nihon Keizai Shimbun reportd, quoting chief executive Wulf von Schimmelmann.

The privatization of Japan Post’s operations is set to begin in October 2007.

Von Schimmelmann said in a interview with the business daily that Postbank would be eager to share its expertise with the Japanese postal savings bank in such areas as branch management, marketing, product lineup and risk management.

Referring to a plan to take the postal savings bank public in 2011, von Schimmelmann said a cross-shareholding relationship between their banks might be a useful arrangement.

He said Postbank does not have an interest in holding a majority stake, but might consider owning some shares if the Japanese bank desires.

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Atlas Air Worldwide Holdings and DHL to form strategic partnership

Posted by | Oct 16, 2006 | |

Atlas Air Worldwide Holdings, Inc. (AAWW), leading provider of global air cargo services, announced today that its subsidiary, Polar Air Cargo Worldwide, Inc., has executed a letter of intent for DHL to acquire a 49% equity interest, including a 25% voting interest, in the scheduled-service business of Polar Air Cargo, Inc. (Polar), in exchange for USD150 million in cash.

The proposed transaction includes a strategic 20-year commercial arrangement that will ensure DHL access to aircraft capacity in key global markets, while providing the AAWW companies with a valuable, long-term customer and potential revenue stream in excess of USD3.5 billion over the full-term of the agreement, although there are certain early termination rights at five-year intervals. In addition, DHL will have access to available additional aircraft capacity from AAWW’s subsidiary Atlas Air, Inc. (Atlas).

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TNT Post accelerates expansion in Germany

Posted by | Oct 10, 2006 | |

TNT Post announced it has been granted approval by the German Cartel authorities to take over Germany’s market leader in mail consolidation, PostCon Deutschland AG. TNT Post also announced it has expanded its own delivery network with another three businesses in the German federal states of Berlin-Brandenburg, North Rhine-Westphalia, and Lower Saxony. This reinforces TNT Post’s position as the number one challenger in the German market for delivering addressed mail. In 2006 TNT Post expects its revenues to increase to EUR 200 million. “TNT Post aims to increase its share of the German addressed mail market to about 10per cent within the next five years,” says TNT Post Germany Managing Director Mario Frusch, “making us the biggest competitor for Deutsche Post AG.”

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Deutsche Post To Sell Vfw

Posted by | Oct 9, 2006 | |

German postal services group Deutsche Post AG plans to sell its wholly owned subsidiary, the local reverse logistics company Vfw AG, Deutsche Post reported on October 9, 2006.

The move is part of a portfolio management programme at the postal services group.

According to Deutsche Post, Vfw’s activities are not part of group’s core business. The group acquired Vfw at the end of 2005, alongside British logistics group Excel.

Deutsche Post said it had exclusively mandated German investment bank Metzler to carry out the sale of 100 pct in the subsidiary.

Vfw, which is one of the leading service providers in its sector in Germany, is planning to set up an alternative waste-processing service to rival the Green Point system of local rival Duales System Deutschland GmbH, Deutsche Post said.

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