Ipswich-based Lombard Shipping began operating the Liverpool region for Fortec at the start of September. The firm set up LP Pallets just four months after launching IP Pallets to cover the Ipswich region for Fortec.
Read MoreDeutsche Post AG’s agreed 5.5 bln eur (3.7 bln stg) cash and shares takeover of Exel PLC could be scuppered by rival bids, with American giants United Parcel Service Inc and/or Fedex Corp tipped to spoil the party. Although both Deutsche Post and Exel have agreed a 37.4 mln stg penalty if either side walks away from the recommended offer, the UK group’s board, led by chairman Nigel Rich, has a fiduciary duty to consider any other offers. The German group’s recommended bid is pitched at 12.44 stg a share – 9.0 stg (some 73 pct) in cash with the balance in Deutsche Post shares. Some analysts believe the equity element to the offer could be the deal’s Achilles heel. ‘Despite a mix-and-match agreement potentially watering down the share element for some Exel shareholders, we suspect this will be unpopular and leave the door open to a cash offer from UPS,’ said Alastair Gunn, analyst at Arbuthnot. He reckons major shareholders will likely sit tight until the intentions of UPS, which has reportedly appointed Goldman Sachs to look into the logic of a counter offer, are better known.
Read MoreSwitzerland’s postal services provider Swiss Post and German railways Deutsche Bahn AG have set up a joint venture, aimed at stepping up their cooperation in the field of road fleet management, both companies said on September 19, 2005. The companies set up the joint venture through their fleet management subsidiaries Mobility Solutions AG and DB Fuhrpark Service GmbH. The joint venture is aimed at achieving synergy effects and encouraging know-how exchange between both companies.
Read MorePWC Logistics strengthened its position in the Middle East with the USD454 million acquisition of global freight forwarder and third-party logistics provider GeoLogistics of Santa Clara, Calif. GeoLogistics will continue to operate under its own name as a wholly owned subsidiary of Kuwait-based PWC. Senior management will remain in place. “Freight forwarding is a service that will continue to grow at impressive rates and one where strong market participants will continue to distance themselves from their midsize competitors,” said PWC Chairman Tarek Sultan. “GeoLogistics will significantly increase PWC Logistics’ global forwarding capabilities, especially within, to and from the Middle East.” It’s PWC’s third acquisition of 2005.
Read MoreAmtrak has won delivery contracts with electronics retailers Watford Electronics (right) and Empire Direct, both of which have major commerce operations
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