DHL EXPRESS disposes of two subsidiaries to Austrian Post08/09/2007, 02:00 PM CEST
- DHL EXPRESS reaffirms strategic focus on core business
- Divestment initiative supports profitable growth program of DHL EXPRESS
Bonn: DHL EXPRESS has reached an agreement to sell its Dutch subsidiary Dedicated Distribution Services (DDS) and its Belgian subsidiary Van Osselaer Pieters Colli Service (VOP) to Österreichische Post AG (ÖPAG), the Austrian postal service. The transaction is a further step in DHL’s strategy to optimize the strategic synergies within the EXPRESS organization and thus to maximize shareholder value. The transaction will not have any effect on the services provided to existing customers.
"It is our explicit strategy within DHL EXPRESS Global to focus on core express products and services. Our primary focus is to ensure that our businesses are synergistic. This means putting emphasis on systematized products with similar features, standard shipment characteristic and high quality levels. This will ensure that we significantly enhance the quality of our offering and provide increased benefits to customers and other stakeholders. This divestment program is an important step to bring healthy returns on capital employed“, said John Mullen, CEO of DHL EXPRESS Global and Member of the Board of Management at Deutsche Post World Net.
After transferring the DHL Freight business from EXPRESS to LOGISTICS in 2006 and integrating the standard Parcel business in Germany into the MAIL division, the current sale of the two Benelux subsidiaries is another milestone in DHL's strategic approach to simplify its business processes and to increase the transparency of its product offerings.
The parties have agreed not to disclose the value of the transactions.