Tag: USA

Deutsche Bahn to buy US logistics firm Bax Global for 1.1 bln dlrs

Posted by | Nov 16, 2005 | |

Deutsche Bahn, the German state-owned rail operator, said Wednesday it planned to acquire buy US logistics firm Bax Global, a wholly-owned unit of Brink’s, for 1.1 billion dollars (940 million euros). A corresponding agreement was signed by both parties in New York on Tuesday and the deal was expected to be finalised “in the next few wkees”, Deutsche Bahn said in a statement. The German giant itself did not reveal the purchase price. But in a separate released on its own website, Brink’s put it at “approximately 1.1 billion dollars in cash”. Deutsche Bahn chairman Hartmut Mehdorn said: “Bax fits perfectly with our strategy and is an ideal addition to our logistics subsidiary Schenker.” The German company said the deal would make Deutsche Bahn the world’s number one transport and logistics group.

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Deutsche Post takeover of Exel approved by court meeting, shareholders

Posted by | Nov 16, 2005 | |

Exel PLC, the UK logistics group, said a scheme of arrangement that will see it taken over by Deutsche Post AG in an agreed 5.5 bln eur (3.7 bln stg) takeover has been approved at a court meeting and by its shareholders at an extraordinary general meeting. In addition, Exel said the US Federal Trade Commission has granted early termination of the pre-merger waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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US first-class stamp prices to rise by 2 cents on Jan. 8

Posted by | Nov 15, 2005 | |

The cost of mailing a letter will increase to 39 cents on Jan. 8. The Postal Service’s board of governors approved the two-cent increase in first-class postal rates late Monday. It is the first increase since June 2002. The cost of mailing a postcard will increase a penny, to 24 cents, as part of the roughly 5.4 percent, across-the-board hike in most rates and fees. The increase fulfills a requirement, passed by Congress in 2003, that the Postal Service establish a USD3.1 billion escrow account. Congress is to determine later how to spend that money. The Postal Service said without the mandate it would not have had to raise rates next year.

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Deutsche Post unaware of reported US regulatory clearance for Exel deal

Posted by | Nov 15, 2005 | |

Deutsche Post AG said it is unaware of a reported decision by the US antitrust authorities to clear its proposed acquisition of UK logistics group Exel PLC.
The US Federal Trade Commission said in a notice posted on its website yesterday that US antitrust authorities had closed their review of the transaction without taking any action to block the deal, according to a news agency report. A spokesman for Deutsche Post said it expects to hear of the US antitrust decision in due course, but that it has not yet received any formal notification.

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DHL to build largest US on-airport service center in Charlotte, N.C.

Posted by | Nov 15, 2005 | |

DHL today announced plans to build its largest US on-airport service center facility at the Charlotte Douglas International Airport in North Carolina. DHL expects to invest USD6 million in the development of the new facility, consolidating four Charlotte, N.C.-area facilities into a single service center location. The new 80,200-sq.-ft. facility will serve the Charlotte, N.C. and surrounding areas, including Morrisville, Concord, Kings Mountain and Salisbury, as well as parts of South Carolina. The new facility will enhance the efficiencies of the Southeast operation and improve service delivery times as well as provide a later pickup service offering for customers in the area.

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