DHL planning major expansion in Chinese operations
AFP · 1 Jul 2009, 10:14
Published: 01 Jul 2009 10:14 GMT+02:00
The company launched an eastern China domestic transportation hub in Shanghai Tuesday, the China Daily said, the fifth facility of its kind operated by DHL in China.
The company will open 10 more regional centres in major Chinese cities by the end of this year, the report said, boosting the total number in the country to 15.
The launch of the Shanghai hub is part of a 25-million-dollar investment to beef up DHL's competitiveness in China's road transportation and distribution market, according to a statement posted on the company's website Tuesday.
It "reflects our continued confidence in China," Frank Appel, chief executive officer of Deutsche Post DHL, said in the statement.
DHL's parent Deutsche Post has been hit hard by the economic crisis, with revenue in the first quarter dropping 13 percent and earnings before interest and taxes diving by 42 percent in the period, the China Daily said.