Swiss Post takes over franchisees in Asia
Swiss Post International (SPI), the international business unit of Swiss Post, has taken over its franchisees in Asia. The new subsidiary, known as SPI Singapore, operates in Singapore, Malaysia and Hong Kong and sells SPI’s products in the Asian market. This purchase will strengthen SPI’s competitive position as a global player in the cross-border letters segment. Asia offers considerable potential for postal services on account of its rapid economic development.
“SPI Mail International Pte. Ltd”, based in Singapore, has been an SPI franchisee since 2003. The acquisition was made with retroactive effect to 1 April 2006. The two subsidiaries in Kuala Lumpur (Malaysia) and Hong Kong (China) were also acquired. The company will be known as SPI Singapore and will operate as an SPI subsidiary with a workforce of around 50. SPI Singapore will also be represented in the Chinese market as of this autumn with a sales agency.
International business boosts domestic business
The purchase of SPI Singapore supports SPI’s strategy of strengthening Swiss Post’s domestic position through targeted growth abroad. It plans to continue expanding its links to international distribution networks so as to be ready for competition and safeguard its import and export business. SPI is already the fifth-largest player in the cross-border letters market after Deutsche Post (Germany), United States Postal Service, Royal Mail (UK) and La Poste (France). In acquiring SPI Singapore, SPI is securing its long-term cooperation with established partners and its access to growing markets.
Total solutions for global business customers
SPI has been a wholly-owned subsidiary of Swiss Post since 1996. The Group has around 1,000 employees at 27 locations worldwide. Globally active companies receive customer-oriented support for accessing, supplying and supporting international markets. SPI’s services cover everything required for international business from the handling of daily mail, comprehensive direct marketing services, complete distribution of newspapers and magazines through to small consignments.
In 2005, SPI posted sales of CHF 992 million in 2005 and an operating result of CHF 35 million. In the first quarter of 2006, it generated sales of CHF 265 million, and its operating result came to CHF 17 million.