Tag: USA

ABX builds non-DHL profits

Posted by | Mar 11, 2005 | |

ABX Air is finding that being independent is increasingly profitable, whether the former Airborne Express airline flies for DHL or not. The company reported a USD37 million net profit in 2004, nearly double the earnings for 2003, as the former Airborne Express air carrier saw revenue edge up to USD1.2 billion. The earnings included an USD18.1 million net profit in the fourth quarter on a 31 percent increase in revenue to USD361.4 million. Those earnings were spurred by an unexpected surge of package volume, up 29 percent over last year’s fourth quarter and 22.2 percent over third quarter 2004 totals. The strong financial report marked an important step in the airline’s path to independence since it was spun off from Airborne in 2003 following DHL’s purchase of the express operator. DHL accounts for the huge majority of ABX’s revenue but the airline said its non-DHL revenue grew from USD11.6 million in 2003 to USD26.7 million last year.

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Pitney Bowes CEO sees bright future for mail and continued ppportunities for growth

Posted by | Mar 10, 2005 | |

Michael J. Critelli, chairman and CEO of Pitney Bowes Inc. told a group of financial analysts this week that the company’s growth in 2005 and beyond will stem from creating and building multiple and diverse growth platforms within the mail and document management market place, rather than a single or handful of very large opportunities. He stated that, “we have extensive, broad-based expertise in these markets as well as a multitude of capabilities, greater than any organization in the world, to take advantage of major trends in the mail and document management space.” Critelli outlined several “strategic assumptions” about the mail stream that underlie the company’s growth strategies by leveraging the growth and diversity of mail. He also discussed the company’s commitment to expanding its value to customers and influencing the future potential for mail and related document management solutions by helping transform postal systems worldwide.

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US Deputy PMG Nolan to retire in May

Posted by | Mar 8, 2005 | |

After a 24-year career with the U.S. Postal Service, Deputy Postmaster General John M. Nolan will retire in May. The DPMG is a member of the Board of Governors and serves on its Capital Projects Committee. Nolan became DPMG in February 2000. He resumed his postal career after working 11 years as a director of a private-sector print and mail business.

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FedEx may acquire local partner Datian soon

Posted by | Mar 6, 2005 | |

FedEx Express may acquire its local partner Tianjin Datian W Group soon, becoming the second US express service provider to go solo in China as the market opens up, the Economic Observer reported.

The newspaper said FedEx Express China chief Eddy Chan denied that any such plans were being considered but it quoted sources as saying that FedEx has hired Baker & McKenzie as its legal adviser for a possible takeover.

The newspaper did not give any timeframe for the deal or provide possible financial details.

FedEx rival United Parcel Service Inc has already bought out its local partner Sinotrans, paying 100 mln usd to end a 16-year relationship.

China will allow freight forwarders to set up wholly-owned units by December of this year in accordance with its commitments to the World Trade Organization.

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