Tag: Worldwide

UPS Announces Rates For 2006

Posted by | Nov 18, 2005 | |

UPS today announced new 2006 rates for most US small package services, including a 3.9 percent increase in commercial ground services and a 5.5 percent rise in UPS air and international services. The company also will reduce by 2 percent the index used to determine its air fuel surcharge, a move that will directly benefit customers as fuel prices moderate and the index pushes the air fuel surcharge below the current 12.5 percent cap. UPS is maintaining this cap despite dramatic jet fuel price increases.

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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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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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TNT and Cosco enter strategic partnership to jointly develop China and Asia Pacific logistics business

Posted by | Nov 14, 2005 | |

Cosco Group together with TNT unveil a strategic partnership, with the formation of a Joint Venture (JV). The announcement is made jointly by Captain Wei Jiafu, President of Cosco Group and Mr Peter Bakker, CEO of TNT. The partnership will enable Cosco to further penetrate into the Asia Pacific logistics market, and it will enable TNT to expand its presence in China as well as its China-linked logistics business. As a first step in this strategic partnership, both industry leaders today signed the Letter of Intent for the establishment of a logistics JV. The JV aims at becoming the world’s recognised leader in supply chain management in the Asia Pacific region. The combined strengths of both companies will create more comprehensive service offerings and geographical coverage to customers. The new 50/50 JV is expected to be operational in 2006.

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