Tag: International

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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New Look Signals Evolution of Aramex

Posted by | Jun 18, 2008 | |

Visual Identity Transformed to Represent Changing Face of Company

Aramex unveiled a new corporate image that is designed to catch up to the rapid growth of the company from a regional transportation solutions provider into a major player in the global logistics marketplace, with an updated look that marks the biggest change in the company’s visual identity to date.

Over the past decade, Aramex has become one of the Middle East’s leading brands in terms of exposure and recognition, and has long been considered one of the most respected and admired companies in the region.

Senior executives say that the last creative stroke to the brand was more than 10 years ago, and that the new logo more accurately reflects what Aramex represents today – a highly dynamic, global company whose vitality and innovation are fuelled by the passion of its people.

Following on a 26 year history of milestones, Aramex was the first company with Middle East roots to be listed on the NASDAQ, the first to issue a Corporate Sustainability Report, and aims to become the first carbon neutral company in the industry.

To complement the brand’s evolution, the company has adopted a new slogan – “delivery unlimited” – a tagline which, with its longevity and ambition, seeks to match the company’s vision.

Building its business on sustainable practices, the company continues to set its sights high, proving that corporations can be a force for change by playing an active role in the progress of communities.

The re-brand – which goes live today in the UAE, Saudi Arabia, Jordan, and Egypt – will be rolled out on all Aramex packages, vehicles, materials, uniforms, and facilities across the region in June, with full completion of global re-branding expected by end of year.

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FedEx report first loss in 11 years

Posted by | Jun 18, 2008 | |

FedEx Corp. posted its first quarterly loss in 11 years and projected earnings that fall short of analysts’ estimates as fuel costs rise and a slowing economy curbs demand. The shares dropped 2.1 percent.
The report from FedEx, considered a proxy for the U.S. economy, suggests fuel costs and declining demand will continue to erode prospects in industries ranging from shipping to airlines. Economists have cut their U.S. growth forecasts for later this year and next as job losses, food and fuel prices and tougher lending rules hurt consumers.
FedEx and UPS typically have a two-month lag in recovering fuel expenses through surcharges. Crude oil, from which gasoline and jet fuel are derived, averaged USD 115 a barrel in the three months ended May 31, up from USD 63 in the same period a year earlier.
FedEx’s fuel bill for the fourth quarter surged 54 percent, to USD 1.39 billion. Jet-fuel costs jumped 80 percent from a year earlier, Graf said on a conference call with investors and analysts.
The surcharges that FedEx has been able to add so far have hurt demand for express shipments, as some customers downgrade to cheaper options such as two-day shipping or freight. FedEx’s fuel surcharge on express packages is 28 percent, up from 18.5 percent in March, according to its Web site. The surcharge will jump to 32.5 percent in early July.
FedEx’s results underscore concerns among economists that higher energy and raw-materials expenses will squeeze profits in more industries as consumers resist price increases.

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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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Korea Express says to hand local JV stake to UPS

Posted by | Jun 17, 2008 | |

Korea Express Co Ltd, a country logistics company, said it had signed a deal to hand its 40 percent stake in a local joint venture to United Parcel Service Inc .

It did not disclose the value of the transaction.

Atlanta-based UPS had owned 60 percent of UPS-Korea Express, launched in 1996.

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