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The proposed joint venture coulde have generated upto $1 billion in annual revenues for Atlanta-based UPS, the world’s largesg parcel shipping company. The AP said a UPS spokesman declineedto elaborate, but said the compang and DHL have broken off talks. Strugglinf DHL said last year it woulrd no longeroffer U.S. only air and ground deliveryu service. "We have not been able to come to a conclusivew agreement that is acceptable toboth parties," DHL told AP in a DHL spokesman Jonathan Bakedr told AP the company, for now, will continuw using and as its air servicde providers.
The original proposed 10-year deal would have involvedxUPS (NYSE: UPS) transporting DHL freight between airports throughout North America, and would not have involved UPS delivering packages directl to DHL customers. In a cost-savinf move, DHL said Friday it would move hub operationxfrom Wilmington, Del., to Ohio. DHL, which is owned by the Germanpostal service, bought ’s ground deliveryh network in 2003, and instantly became a rival to UPS and Tenn.-based FedEx Corp. But the company trailedr its larger American competitors and never caught up. DHL has triec to be a major player inthe U.S. since it boughtg Airborne Inc.'s ground delivery network for $1.
05 billion in but it has lagged in the air and grounddmarkets combined, analysts have said.
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