[A-List] Germany & the imperialist chain: Deutsche Post

["Michael Keaney" <michael.keaney@xxxxxx>]

Lockout benefits Deutsche Post
By Uta Harnischfeger in Frankfurt
Financial Times; Oct 09, 2002

Deutsche Post, the German postal operator, said yesterday it was profiting
from the port lockout on the US West Coast and that volumes in its express
services and air freight business had risen significantly in recent days.

The US strikes are primarily affecting express and freight services between
the US and Asia, the company said. DHL International, Deutsche Post's global
air express unit, accounts for almost half of the inbound and outbound
express services into Asia.

Danzas, Deutsche Post's forwarding unit, is also profiting from the lockout.
Although it transports fewer goods by sea, it is forwarding more on
higher-margin airline services.

"People are switching over to air services wherever they can - we have
significantly more volumes at DHL," said a spokesman. He declined to give
precise volume increases. "It is particularly things like electronic parts
and perishable goods."

The German postal operator said prices in express services in the region had
risen up to 75 per cent in the past few days.

Separately, Klaus Zumwinkel, Deutsche Post chief executive, said the company
was maintaining its full-year earnings forecast. "We can confirm our
forecast for 2002," he said on the sidelines of a postal trade fair in
Cologne.

Deutsche Post has pledged to post more than ?40bn ($39.1bn) in annual sales
and between ?2.1bn and ?2.3bn in operating profits, down 10-15 per cent from
last year.

On Monday, Mr Zumwinkel surprised market participants when he turned down
the chance to succeed Ron Sommer, Deutsche Telekom's ousted chief executive.

Returning from a four-day hike in the Dolomites, Mr Zumwinkel reassured
colleagues that he would remain head of Deutsche Post and would not be ready
to jump ship if offered the job.

"I am greatly enjoying being the head of Deutsche Post - and I want to
continue the exciting work of turning Deutsche Post into a strong global
company," he said.