Tag: Germany

German Deutsche Post rules out Postbank stake sale

Posted by | Feb 4, 2005 | |

German Deutsche Post AG categorically rules out the possible sale of its stake in its banking arm Deutsche Postbank AG, Deutsche Post CEO Klaus Zumwinkel said on February 4, 2005.

Postbank’s strength lies in the fact that it focuses on the German market and Deutsche Post had absolutely no plans to expand the bank abroad, Zumwinkel said.

Deutsche Post is open to acquisitions in Asia, Zumwinkel said but stressed that those were not expected to follow soon.

Zumwinkel declined to comment on whether Deutsche Post was interested in buying the British logistics firm Exel Plc, and dismissed the issue as pure speculation and rumours.

Deutsche Post generated a 3.3 bln euro (USD4.283 bln) operating profit on a turnover of substantially over 40 bln euro (USD51.916 bln) in 2004.

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Federal states vote to end Deutsche Post monopoly early

Posted by | Feb 4, 2005 | |

The German Bundesrat, the upper house of parliament, has voted to end the monopoly of German national postal services provider Deutsche Post earlier than planned. A majority of finance ministers from each of Germany’s federal states voted in the Bundesrat to end the monopoly on 1 January 2006, two years earlier than proposed by the German government in the Bundestag. The new law would see private companies also being allowed to deliver standard letters, under 100 grams in weight.

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Deutsche Post prepares to transfer European logistics centre from Brussels to Leipzig

Posted by | Feb 3, 2005 | |

Deutsche Post has overcome the final obstacle to transferring its European logistics centre from Brussels to Leipzig. DHL, the express and logistics subsidiary of the group, has concluded negotiations with Belgian trade unions regarding its current hub at Brussels airport, where the company has agreed to guarantee the preservation of jobs until April 2008. In exchange, staff have promised that there will be no disruptions to operations. DHL is planning to invest 300m euros in Leipzig, where the airport will be able to remain in operation 24 hours a day, unlike in Brussels. The company is to create around 3,500 jobs by 2012, and it is thought that a further 7,000 jobs could be created in the area.

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Deutsche post expects foreign growth to balance loss of letter monopoly

Posted by | Feb 3, 2005 | |

Deutsche Post has said that it is expecting the current operating income of 2bn euros for its letter service division to remain stable for the long term. Although analysts fear that the profits for the division could fall following the ending of the companys monopoly on letter services at the end of 2007, management explains that the company will compensate for loss of domestic business with gains in international letter activities.

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DHL terminates partnership with Swedish Wilson Logistics

Posted by | Feb 2, 2005 | |

DHL has terminated its strategic partnership with the Danish unit of Swedish transport and logistics group Wilson Logistics Group, it was reported on February 2, 2005. The move was attributed to the acquisition of Wilson Logistics by Dutch postal, express and logistics company TPG NV in the summer of 2004, DHL’s Danish division communications director, Pis Baagoe Skat-Roerdam, said. Under the partnership, Wilson Logistics sold DHL’s courier services to its Danish customers at a special price. After the termination of the partnership, Wilson Logistics will have to buy DHL’s products at the traditional price.

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