Tag: India

Precision Conversions Receives 757-200PCF Order from DHL

Posted by | Jun 28, 2007 | |

Precision Conversions, LLC (Precision) is pleased to announce that the company has received an award to provide DHL with their first full 15-pallet position 757-200PCF. The Rolls-Royce powered, ex-VIM Airlines aircraft (MSN 27598) will commence modification at the Flightstar Aircraft Services facility in Jacksonville, Florida this week and will be re-delivered in October, 2007. The aircraft is owned by DHL’s European Air Transport, but is expected to be operated by Blue Dart Aviation based in Chennai, India.

DHL’s Airline Director, Gordon Olafson, said that, “The Precision Conversions 757-200PCF, with its weight enhancements, is the right product at the right time to support our expanding global operations, especially in India.”

Precision Conversions has re-delivered 12 conversions to date and currently has 2 aircraft in work. The company holds 6 firm orders and contracts on more than 47 options for its 757-200PCF conversion.

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Gati opens Bangalore warehouse for express goods

Posted by | Jun 26, 2007 | |

The express distribution and supply chain company Gati plans to invest USD 100 million in the next three years. It plans to set up 19 express distribution centres (EDC) with an addition of one million sq ft area across India by 2009.

Gati has launched its mechantronic EDC in Peenya, an industrial town in Bangalore. Spread over an area of three acres, the mechantronic EDC provides a total storage capacity of 2,50,000 sq ft. The mechantronic EDC will basically offer multiple levels of storage, sorting, pick pack facility with racking and security systems, material handling equipment and an online warehouse management system for managing customer’s inventory. Meanwhile, the company has acquired land in Nagpur for setting up its central distribution centre. It is targeting a market share of 15% by 2009.

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Postal service to go green in Gujarat

Posted by | Jun 20, 2007 | |

The Department of Postal Service has decided to convert its fleet of mail delivery vans to run on compressed natural gas. The entire fleet will be phased out and it will be replaced by the new CNG vans.

The implementation has already begun from Ahmedabad, Gujarat, where four CNG vans have been included in the fleet. The department has taken the step as a part of its social responsibility.

The implementation of the decision will be done in a phased manner.

The department has over 250 mail delivery vans in its fleet in Gujarat. Gujarat is divided into three regions — Ahmedabad, Rajkot and Vadodara.

Dashora refused to reveal the expenditure on this project but said that the expenditure will be funded by the Indian Postal service department.

The mail delivery van fleet falls under the Motor Mail Service of the Indian Postal Service and the department will be responsible for implementing the decision.

Dashora said that it is not possible for him to give any timeframe for the process to end as the existing vans will be replaced with CNG ones as they get old.

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DHL and Indian Blue Dart Express in the final step of delisting process

Posted by | Jun 19, 2007 | |

Shares of Blue Dart Express surged by nearly 10% on Monday on the BSE on talk that DHL has agreed to an offer price of Rs 950 per share to acquire the remaining stake in the company. The freight and logistics major had acquired a majority stake in Blue Dart in 2004 and has since then been trying hard to acquire the residual stake and delist the company. DHL currently holds a little over 81% in Blue Dart through DHL Express Singapore, while institutional investors collectively hold 10.34%. Individual investors have a stake of less than 5%. The institutional investors include fund houses like SBI Mutual Fund and UTI Mutual Fund.

According to sources, talks had initially fallen through in November last year due to differences over the buyback price. DHL finally gave the go-ahead to a price arrived at by the reverse book building process in November last year. Interestingly, DHL had earlier refused to accept this price of Rs 950 per share. The price is at a premium of nearly 44% over Monday’s closing price of Rs 649 on BSE. In the past one month, the stock has gained nearly 45% or Rs 196.30.

Earlier, DHL was insisting on a price of less than Rs 700 per share that was unacceptable to the shareholders. After many deliberations, the promoters decided to accept the discovered price of Rs 950.

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India Post to launch Post Bank of India

Posted by | Jun 19, 2007 | |

In its bid to diversify the varied financial services and helping the common people, India Post is considering to launch a full-fledged banking system-, Post Bank of India in the country.

This was announced here today by Union Minister of State for Communication and Information Technology Dr Shakeel Ahmed while presiding the function of tie-up between HDFC Bank and Department of Posts (DOP), West Bengal circle, to offer loans against postal securities.

Dr Ahmed said the main aim of introducing the banking system was to offer loans to the people in the remotest parts of the country exploiting the vast network of India Post.

“We are having discussions with the Union Finance Ministry in this regard and some amendment will be made in the postal act, if necessary, to ensure the full-fledged banking system by India Post”, Dr Ahmed said.

He said the proposal would be placed in the next session of Parliament.

Expressing concern over the low interest rates in post offices, Dr Ahmed said his department was taking a number of steps to make India Post a hub of multiple activities. He also informed that all the 150 post offices in the country would be linked with the National Data Centre during the 11th five-year plan.

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