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upscorpis
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Financial Times Deutschland
Deutsche Post World Net AG is planning to acquire by the end of this year an additional 23 percent stake in express carrier DHL for 400 million euro.
It said the transaction has already been agreed by the owners of the stake, an Asian investment fund and a fund unit of WestLB, and will leave Deutsche Post with a stake of 98.6 percent in DHL. The other 1.4 percent is owned by Japan Airlines, who have so far been reluctant to sell out.
In July, Deutsche Post said it is raising its stake in DHL to over 75 percent by acquiring the 25 percent of the company owned by Lufthansa AG for 610 million euro. Meanwhile, the paper added the EU commission is planning to approve the full takeover of DHL by Deutsche Post, despite the misgivings of US rival UPS.
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DHL announced expansion plans last month.
JOURNAL OF COMMERCE online.
DHL Worldwide Express announced last month that it was expanding its global service parts logistics network in the United States and Canada with the opening of an Express Logistics Center (ELC) in San Francisco, CA.
"The opening of the San Francisco ELC marks the beginning of expansion plans for DHL's logistics offering in the U.S. and Canada," said DHL's Vice President of Global Logistics, Charles Menkhorst.
"DHL is the market leader in the provision of mission-critical service parts logistics solutions in regions around the world. Our comprehensive roll-out into North America will secure a global offering for our customers."
In addition to the new San Francisco facility, DHL operates U.S.-based ELCs in Cincinnati and Miami. DHL's ELCs operate in regions around the world including Brussels, Bahrain, Johannesburg, Hong Kong, Sydney and Singapore.
An ELC will open in Tokyo in October 2002. DHL's ELCs serve multiple functions as both value-added regional logistics centers and buffer stock locations to replenish the company's high-density network of Strategic Parts Centers (SPC). The SPCs are strategically located to ensure two- to four-hour deliveries to customers' mission-critical operations. DHL plans to operate 55 SPCs in the U.S. and 330 globally by the end of 2002.
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If I recall, DPAG used to claim that they didn't control DHL Airways since they owned less than 25% of the voting power. (DHL Airways is a US based arm of DHL. US carriers are prohibited by law to be owned by foreign interests. Foreign ownership must have <= 25% interest in a US carrier.) Now that they'll own close to 99% of DHL, I'd think that would change things and disqualify DHL Airways. This may also call into question DHL Worldwide Express' status as a freight forwarder in the US. It looks like the lawyers have some work to do. The 2nd article certainly shows that DPAG is aggressively looking to expand their US presence. I'm wondering how the 1st article is going to impact that desire.
Deutsche Post World Net AG is planning to acquire by the end of this year an additional 23 percent stake in express carrier DHL for 400 million euro.
It said the transaction has already been agreed by the owners of the stake, an Asian investment fund and a fund unit of WestLB, and will leave Deutsche Post with a stake of 98.6 percent in DHL. The other 1.4 percent is owned by Japan Airlines, who have so far been reluctant to sell out.
In July, Deutsche Post said it is raising its stake in DHL to over 75 percent by acquiring the 25 percent of the company owned by Lufthansa AG for 610 million euro. Meanwhile, the paper added the EU commission is planning to approve the full takeover of DHL by Deutsche Post, despite the misgivings of US rival UPS.
----------------------------------------------------------
DHL announced expansion plans last month.
JOURNAL OF COMMERCE online.
DHL Worldwide Express announced last month that it was expanding its global service parts logistics network in the United States and Canada with the opening of an Express Logistics Center (ELC) in San Francisco, CA.
"The opening of the San Francisco ELC marks the beginning of expansion plans for DHL's logistics offering in the U.S. and Canada," said DHL's Vice President of Global Logistics, Charles Menkhorst.
"DHL is the market leader in the provision of mission-critical service parts logistics solutions in regions around the world. Our comprehensive roll-out into North America will secure a global offering for our customers."
In addition to the new San Francisco facility, DHL operates U.S.-based ELCs in Cincinnati and Miami. DHL's ELCs operate in regions around the world including Brussels, Bahrain, Johannesburg, Hong Kong, Sydney and Singapore.
An ELC will open in Tokyo in October 2002. DHL's ELCs serve multiple functions as both value-added regional logistics centers and buffer stock locations to replenish the company's high-density network of Strategic Parts Centers (SPC). The SPCs are strategically located to ensure two- to four-hour deliveries to customers' mission-critical operations. DHL plans to operate 55 SPCs in the U.S. and 330 globally by the end of 2002.
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If I recall, DPAG used to claim that they didn't control DHL Airways since they owned less than 25% of the voting power. (DHL Airways is a US based arm of DHL. US carriers are prohibited by law to be owned by foreign interests. Foreign ownership must have <= 25% interest in a US carrier.) Now that they'll own close to 99% of DHL, I'd think that would change things and disqualify DHL Airways. This may also call into question DHL Worldwide Express' status as a freight forwarder in the US. It looks like the lawyers have some work to do. The 2nd article certainly shows that DPAG is aggressively looking to expand their US presence. I'm wondering how the 1st article is going to impact that desire.
