Tag: New Zealand

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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NZ Post and DHL join forces for new international service

Posted by | Dec 20, 2004 | |

New Zealand Post and the international freight firm DHL have formed a joint venture which they say will offer far better service to burgeoning markets such as South East Asia, China, Japan and India. The 50/50 joint venture is for the express and logistics business of New Zealand Post’s Express Couriers Ltd, which includes the brands CourierPost, Pace!, Skyroad and Contract Logistics, and road and air line haul operations. New Zealand Post Chief Executive, John Allen said working with DHL would allow them to offer a more comprehensive service to New Zealand businesses in the local and international markets. He said the new operation could offer a service which was uniquely attractive to New Zealand businesses.

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DHL & New Zealand’s NZ Post to start joint venture

Posted by | Dec 1, 2004 | |

Deutsche Post World Net AG’s express mail courier DHL is close to launching a joint venture with New Zealand’s NZ Post, Die Welt newspaper reported. It said DHL’s new head John Mullen – who replaced Uwe Doerken three weeks ago – hopes to complete the deal by the end of the year. New Zealand-Australian express mail has a sales potential of about 185 mln aud per year.

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