Deutsche Post may make acquisitions to expand its logistics business this year but the possible purchases will be a small part of its growth plans, a management board member of the German group said on April 16.
"There may be some small, bolt-on acquisitions in key markets - where we can find them - but that is going to be a pretty small part of the mix," John Allan, Deutsche Post management board member in charge of the group's logistics arm told Reuters in an interview.
"We're in the happy position that acquisitions may be a useful way of speeding our growth. So it's a 'nice to do' rather than a 'necessary to do'." Allan also said that the company was in talks with its Indian joint venture partner Lemuir to restructure the business.
"Those discussions are proceeding well. The aim is to bring together Exel and Lemuir," he said but declined to be more specific. Allan expects to complete the revamp of the joint venture in the coming weeks. Deutsche Post acquired British logistics group Exel for 3.7 billion pounds ($7.4 billion) when the deal was announced in September 2005.
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