Tag: New Zealand Post

NZ Post and DHL look to improve links with Asia

Posted by | Feb 8, 2005 | |

Smaller New Zealand businesses could be doing a booming online trade with China through new services being developed between the two markets, says New Zealand Post’s joint-venture partner DHL. Last year, Deutsche Post-owned DHL entered a joint-venture partnership with state-owned New Zealand Post – now called Express Couriers Limited. Scott Price, chief executive of DHL Express Asia Pacific, said they were already looking at how to improve links between New Zealand, Asia and Australia.

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New Zealand Post sells share for NZD80m

Posted by | Jan 22, 2005 | |

New Zealand Post said yesterday that it had received NZD80 million for the sale of half of its courier business to German firm DHL.

The deal, unveiled on December 20, was for Deutsche Post-owned DHL to buy 50 per cent of NZ Post subsidiary Express Couriers.

The deal came under attack before Christmas from opposition MPs and courier operators because the terms were kept secret and rival operators did not get a look in.

Spokesman Ian Long said the Government-owned NZ Post had received NZD80 million from DHL.

However, the final price would be a multiple of Express Couriers’ earnings for the year to June 30, 2005. This means DHL could pay extra after June 30 or NZ Post would refund part of the sale price, Long said.

NZ Post expects the final deal to be worth NZD80 million to NZD90 million, valuing Express Couriers at NZD160 million to NZD180 million.

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New Zealand Post values courier unit at USD160m to USD180M

Posted by | Jan 21, 2005 | |

New Zealand Post today said it valued its express and logistics business, Express Couriers Ltd (ECL), at USD160 million to USD180 million.

The valuation comes as NZ Post and global freight firm DHL look to form a 50/50 joint venture, which they say will give better service to markets in Southeast Asia, China, Japan and India.

The valuation was based on preliminary analysis of the first six-months of ECL’s financial year, NZ Post said in a statement.

The final price within the valuation range for DHL’s investment in the joint venture would not be set until the end of the financial year.

However, NZ Post said it was “confident the agreed pricing structure represents full and fair value”.

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NZ Post-DHL link annoys other rivals

Posted by | Dec 21, 2004 | |

State-owned New Zealand Post has spurned rivals to sell its courier businesses into a joint venture with Deutsche Post-owned DHL. The sale was condemned as a partial privatisation of a state business without a contestable process to find out if anyone else wanted to pay more. New Zealand-owned Freightways was annoyed that it did not get a look in despite asking for the chance several times. Also excluded was Toll Holdings of Australia, which has started a small courier business in New Zealand to exploit cross-selling opportunities from its road and rail businesses. “We just wanted a level playing field,” said Dean Bracewell, managing director of Freightways. He condemned yesterday’s deal as lacking transparency – no financial details were disclosed. Toll chief financial officer Neil Chatfield said the company was disappointed it did not get an opportunity to be involved. He said it was a strange way to sell a public asset.

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DHL in 50/50 jv with New Zealand’s NZ Post

Posted by | Dec 20, 2004 | |

Deutsche Post World Net AG’s express mail courier DHL said it has agreed to launch a 50/50 joint venture with New Zealand’s NZ Post.

German newspaper Die Welt reported at the end of November that the two groups were close to agreeing a joint venture.

The company gave little detail about the operations of the new venture but did suggest it will compete in the New Zealand-Australian express mail market by giving a figure for the sales potential of this market of about 185 mln aud per year.

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