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DHL may take over Cargus

DHL, owned by world giant Deutsche Post World Net, is negotiating the acquisition of a stock in the domestic courier company Cargus, according to market sources quoted by ‘Ziarul financiar’ on Monday. Cargus is property of two local business people who prefer to keep a rather low profile: Augustin Plesea and Carmina Dumitrescu. The company may be worth even EUR 50 M, according to the same sources, as Cargus reported a turnover of EUR 29.7 M in 2007 and a 50 per cent growth for 2008.

Cargus officials have not verified the news so far. In September last year they were stating that, within six months, a decision would be made whether or not the company should enter into a strategic partnership, choose an investment fund or apply to be listed on the stock exchange. Initially, Deutsche Post World Net had stated that the 2008 company development strategy was going to be for an organic kind of growth, while not excluding specific acquisitions on markets of high potential. The DHL courier business in Romania in 2007 amounted to EUR 28 M, consistent with the growth pace announced by the company representatives. Nearly 85 per cent of the total business consisted of international shipments, a segment where a major local market competitor is Dutch company TNT. By taking over Cargus, DHL would consolidate its position on the domestic courier service market where the most important players are now Cargus, Fan Courier, Curiero and TCE Logistica. Sursa: http://www.nineoclock.ro

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