FedEx Kinko’s has announced a major expansion plan to open 300 new offi ce and print centres in the US throughout fi scal 2008. The company also will redesign 110 existing centres. FedEx Kinko’s currently has more than 1,700 locations in operation in the US. The company said it also plans to open twenty new centres outside the US during fi scal 2008. These new centres will be focused in the Asia- Pacifi c region, with twelve in China, four in Japan, two in Korea, and one in … [Read more...] about FedEx to expand Kinko’s network
UPS starts hub construction
The Shanghai Airport Authority and UPS last month conducted a formal groundbreaking ceremony for the UPS International Air Hub at Pudong International Airport. Located at the southern end of the West Cargo Terminal Area, the new hub will be built on a parcel totaling one million square feet and will open next year. Rapid expansion is planned to a sorting capacity of 17,000 pieces per hour. The new hub will link all of China via Shanghai to UPS’ international network with direct service … [Read more...] about UPS starts hub construction
FedEx could be private equity target
FedEx could become a target for private equity buyers because of its modest valuation and turnaround potential, Barron’s reported. With an enterprise value of US$35 billion, FedEx is valued at about six times expected fi scal 2008 earnings before interest, taxes, depreciation and amortisation. Barron’s said the attraction for buyout fi rms would be the potential to cut capital expenditures to help fi nance a deal as well as the opportunity to turn around ailing retail unit FedEx … [Read more...] about FedEx could be private equity target
UPS talking pension issues
UPS hopes to resume talks with the Teamsters union toward a new contract soon, a company spokesman said. The two sides put talks on hold last month while UPS sought more information about a union pension plan that draws support from UPS and other employers. Teamsters offi cials have said UPS wants to pull its employees out of the plan. UPS and the Teamsters, which represent about 246,000 workers at the company, have been in contract talks since September. Teamsters president James Hoffa said … [Read more...] about UPS talking pension issues
DHL introduces new Airport to Door product
DHL has announced the launch of Airport to Door Express, an offering which combines the ease-of-use and speed advantage of DHLwith the transportation requirements of importers under traditional shipping terms. Airport to Door Express is a specially designed, userfriendly service that meets the needs of customers who import from their overseas suppliers usually using Free Carrier (FCA) Incoterms (International Commercial Terms) that do not require door-to-door transport. With the Airport to … [Read more...] about DHL introduces new Airport to Door product
TNT Express expands import service
TNT has expanded its worldwide import service to 120 countries and plans to extend it to cover more of the globe. The number of countries covered by the import service has risen to 120 with the addition of Malawi and New Caledonia, TNT Express said in a statement. Markets served include China, India, Brazil and Russia. Under the service, customers can import documents, parcels and freights with minimum administration with agreed transit times and pay standardised prices in euros. … [Read more...] about TNT Express expands import service
