Deutsche Post AG's new service divisionwill bring about savings of around100 million euros this year and 400-500million euros per year by 2009, managementboard member Frank Appel toldFrankfurter Allgemeine Zeitung. 'By 2009this division will cut the company's costsby 400-500 million euros annually,'Appel said. Meanwhile, ver.di secretaryWolfgang Abel told daily HamburgerAbendblatt that the trade union expectsDeutsche Post's planned consolidationof its parcel and mail operations will resultin … [Read more...] about DP division to save 400-500m euros
Uncategorized
EGL’s CEO bids to acquire the company
EGL's largest shareholder, the company'sfounder and chief executiveofficer James Crane, along with privateequity company, General Atlantic, havesubmitted a proposal to acquire all ofthe outstanding equity interests of EGLfor $36 per share in cash. Crane is Houston-based EGL'sbiggest shareholder, with 18 percent.EGL's board of directors has formeda Special Committee of independentdirectors to review and evaluate theproposal. However, the company hasmade it clear that no decision has beentaken … [Read more...] about EGL’s CEO bids to acquire the company
DHL bags Saudi Aramco’s contract
DHL Supply Chain, the logisticsspecialist at Deutsche Post World Net,has concluded a 10-year multi-milliondollarcontract with the world's numberone crude oil producer, Saudi Aramco.DHL has been contracted to developthe oil giant's national logistics infrastructure.This includes the provision,management and operation of fourmaterial distribution centres (MDC) inDammam, Riyadh, Jeddah and Yanbu,of a fleet of vehicles and personnelas well as 14 material service centres(MSC). To implement these … [Read more...] about DHL bags Saudi Aramco’s contract
ATA blasts LAX for rental rate hike
The Air Transport Association ofAmerica (ATA), the industry trade organisationof the leading U.S. airlines,has strongly criticised the Los AngelesCity Council's decision to allow LAXto raise airport rental rates. In a statement, ATA said that it was"extremely disappointed" that LAX hadbeen given authority to arbitrarily raiseairline terminal rates and "we question the legality of this unjustified action." ATA president and CEO, James C.May said in the statement that: … [Read more...] about ATA blasts LAX for rental rate hike
TAP adopts Kale’s CSP
TAP Portugal, the national airline ofPortugal, and Kale Consultants (Kale),the India-based provider of softwaresolutions and outsourced services tothe travel and transportation industry,have signed a contract to implementKale's fully integrated enterprise-widecargo solution, known as CSP™. CSP™ has been designed to meet theend-to-end needs of cargo carriers of allsizes. With CSP™, TAP Portugal willhave a flexible and integrated system,which will provide a comprehensiveset of … [Read more...] about TAP adopts Kale’s CSP
HAL forms JV with Irkut Corp
Hindustan Aeronautics Limited hasentered into a $700 million joint ventureagreement with Irkut Corporationof Russia for manufacturing 60 tonnemulti role transport aircraft (MRTA)the Economic Times reported. Under this 50:50 venture, IlyushinDesign Bureau of Russia will design theMRTA and Irkut Corporation of Russiawill develop the aircraft. Series production of the MRTAaircraft will be carried out by thetransport aircraft division of HAL atKanpur. Initially HAL plans to developthe MRTA as … [Read more...] about HAL forms JV with Irkut Corp
