Tag: Germany

Deutsche Post urges privatization to ease US expansion

Posted by | Oct 15, 2003 | |

Deutsche Post, the global mail, express and logistics group, has urged the German government to speed its privatization to ease regulatory problems facing its U.S. parcel delivery operations. The sale of further shares in Deutsche Post, which is still 62% government-owned after an initial public offering in 1999, “would help us qualitatively, particularly in the U.S., ” chief financial officer Edgar Ernst told the Financial Times of London.

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Deutsche Post wants government to speed up privatisation

Posted by | Oct 14, 2003 | |

Deutsche Post has called on the German government to speed up the privatisation of the postal operator, arguing it would improve its ability to do business, particularly in the US.

Deutsche Post is currently embroiled in a bitter legal battle with its US competitors FedEx and United Parcel Service, who argue that Deutsche Post’s Miami-based carrier Astar Air Cargo violates US laws forbidding foreign control of domestic airlines. They also stress that Deutsche Post’s state ownership further strengthens their case.

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Kuehne & Nagel to acquire Pracht Spedition + Logistik

Posted by | Oct 8, 2003 | |

Kuhne & Nagel Germany has entered into an agreement with Hapag -Lloyd to purchase the forwarding and logistics company Pracht, based in Haiger / Hesse, effective January 1, 2004.

Pracht, a wholly-owned subsidiary of Hamburg-based Hapag-Lloyd, reported a 2002 turnover of almost €200 million. Pracht manages over 140,000 m2 of warehousing and logistics space, with central warehouses in central Germany (Haiger and Rennerod), and branches in Kassel, Stadtallendorf, Siegen and Wetzlar. With around 900 employees and a network of over 100 regular line operations to all the German and European economic centres, the company focuses on industry-specific contract logistics solutions.

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