Tag: Russia

Russian Mail Service will lose USD36M in 2006

Posted by | Mar 31, 2006 | |

The Russian postal service will incur losses of USD36 million in 2006, its chief executive said Friday. Speaking at the reopening after refurbishment of St. Petersburg’s main post office, Igor Syrtsov admitted the company was facing losses, but said Russian Mail would be given 4.5 billion rubles (USD162 million) as part of an investment program in 2006. The funds will be used to build automated sorting centers in Moscow and St. Petersburg, and modernize post offices and transport, he said. Syrtsov added that Russia would have over 20,000 postal offices offering Internet access by year end, and that employees would receive a 30% pay raise in 2006.

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DHL to Invest USD50m in development of business in Russia

Posted by | Oct 24, 2005 | |

DHL is going to invest USD50 million in development of its business in Russia. According to General Director of DHL in the CIS, Frank-Eaves Underer, the Russian market is one of the most promising and rapidly growing in the world. Now its capacity is estimated at USD400 million and its annual growth exceeds 30percent. Along with this, Russia is the only country in the world where companies of the “big four” (DHL, FedEx, UPS and TNT) control less than a half of the market. For example, in the European Union countries their aggregate share approaches 80percent. According to analysts, not more than five large companies specializing in express delivery and logistics will remain in Europe in the future.

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Citigroup and DTB GmbH co-owners of a Russian National Logistics Company (NLC)

Posted by | Oct 24, 2005 | |

It is not the first time when foreigners show interest in the Russian market of storage and logistics services and delivery. In 2004, GeoPost and Yurtici Kargo bought a Russian company Armadillo and Armadillo Biznes Posylka established by Armadillo together with Posten AB.

Businessmen Sergey Grishin, Andrei Suzdaltsev, and Ilya Brodsky decreased their stakes in NLCI, which owns assets of NLC, from 100percent to 62percent. They plan to invest USD50 million derived from the sale in the development of a regional network and in new projects of NLC. According to Ilya Brodsky, NLC, which capitalisation will increase thanks to investments of new stockholders, may be sold to a strategic investor in 3-5 years.

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DHL to open new terminal at Moscow airport

Posted by | Mar 16, 2005 | |

Deutsche Post AG unit DHL said it plans to open a new terminal at Moscow’s Sheremetyevo airport. The customs clearance terminal is part of a 20 mln eur investment program by DHL, commercial director Roland Thomas said in a statement.

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Garant Post- number one in Russia

Posted by | Mar 4, 2005 | |

Demand for GEP services is growing strongly in Russia, in particular in the Moscow and St Petersburg metropolitan areas. Not only the well-known international CEP service providers are benefiting from these developments, but national companies too. Russia is currently one of the most interesting growth markets in Europe for express service providers too. Number one in the domestic market is Garant Post, a joint venture founded around 15 years ago by the Russian national airline Aeroflot, the French national airline Air France, the French express service provider Chronopost (a subsidiary of the French post office), Sodexi (the Air France CEP subsidiary) and a Russian bank. The Russian post office withdrew from the enterprise last year.

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