Intended Offer by FedEx for TNT Express Enters Phase II Review with the European CommissionFedEx remains on track with its intended public offer to acquire TNT Express N.V. as the European Commission initiates a Phase II reviewMEMPHIS, Tenn., July 31, 2015 … FedEx Corp. (NYSE: FDX) confirmed today that the European Commission has initiated a Phase II review in connection with FedEx’s intended public offer to acquire all the issued and outstanding shares of TNT Express N.V. This is the next step
The 39-cent Fanciful Flowers stamped card, featuring a stylized illustration of flowers and a bee, offers a touch of summer to tidings sent to friends and family. Postal Service today dedicated the Fanciful Flowers Forever stamped card at the National Topical Stamp Show. Customers may purchase the Fanciful Flowers stamped card at usps.com/stamps, the Postal Store, at 800-STAMP24 (800-782-6724) and at Post Offices nationwide. As a Forever stamped card, postage for the Fanciful Flowers card will always be equal to the value of the stamped postcard price in effect at the time of use, even if the price increases after purchase. For reporters interested in speaking with a regional Postal Service public relations professional, please go to about.usps.com/news/media-contacts/usps-local-media-contacts.pdf.
UPS has also identified revenue growth and fleet efficiency synergy opportunities by hauling shipments arranged by Coyote using existing UPS backhaul capacity within its tractor/trailer fleet. Additional InformationA special presentation on the investment highlights of the UPS acquisition of Coyote is available on the UPS Investor Relations website at www.investors.ups.com. “Through the Coyote network, UPS will provide our combined customer base with an even more seamless supply chain solutions portfolio from multi-modal freight shipments to small-package delivery,” said Alan Gershenhorn, UPS executive vice president and chief commercial officer. Coyote has experienced very rapid revenue growth since inception and has built extensive relationships with a broad customer base. Coyote arranges transportation for more than 6,000 loads per day for shippers of all sizes and industries, from Fortune 100 companies to small businesses.
Intended Offer by FedEx for TNT Express Enters Phase II Review with the European CommissionFedEx remains on track with its intended public offer to acquire TNT Express N.V. as the European Commission initiates a Phase II reviewMEMPHIS, Tenn., July 31, 2015 … FedEx Corp. (NYSE: FDX) confirmed today that the European Commission has initiated a Phase II review in connection with FedEx’s intended public offer to acquire all the issued and outstanding shares of TNT Express N.V. This is the next step in the process where the European Commission conducts an in-depth analysis under the EU Merger Regulation before coming to a decision. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in TNT Express N.V. Any offer will be made only by means of an offer document. This is a press release by FedEx in connection with the intended public offer by FedEx Corporation for all the issued and outstanding ordinary shares in the capital of TNT Express N.V. “We will continue to work together with TNT Express to meet the European Commission’s need for additional due diligence and are confident that the combination of both companies will increase competition and create benefits for customers,” said David Binks, President, FedEx Express – Europe.
Removing the current federal tax disincentive is essential to encouraging additional investment in alternative fuels. This federal tax disparity for LNG and propane is perhaps the greatest disincentive to converting large commercial trucking fleets to run on alternative fuels. By the end of 2015, UPS will have more than 7,700 total alternative fuel vehicles, including more than 1,000 propane vehicles. “LNG and propane are both clean, readily available fuels, produced in the United States,” said Laura Lane, President of UPS Global Public Affairs. UPS is one of America’s foremost users of alternative fuel vehicles, with more than 1,200 liquid natural gas tractors already operating in its U.S. domestic network.
Accordingly, we have pledged to double the goal to a 20 percent reduction by 2020, as measured by our UPS Transportation Intensity Index, off a 2007 baseline. In 2014, we achieved a 14.1 percent reduction in our carbon intensity versus a 2007 baseline as a result of successfully executing carbon reduction strategies in our ground and air fleet. In 2013, successful execution of our global GHG strategy enabled us to exceed a 10 percent reduction in carbon intensity three years ahead of our 2016 goal. Our UPS plan includes:* Network and mode optimization to minimize the miles traveled and energy consumed. The White House fact sheet can be found at https://www.whitehouse.gov/the-press-office/2015/07/27/fact-sheet-white-house-launches-american-business-act-climate-pledge.
These new bio-refineries also have the capability to produce other renewable fuels such as renewable jet fuel, renewable gasoline and renewable propane. The agreements with three leading suppliers of renewable fuels, secure access to an advanced renewable diesel fuel in order to meet the company’s objectives for alternative fuel utilization. UPS has been using renewable fuels for more than a year in trucks operating in Texas and Louisiana. US 07/29/15Atlanta, GAAnnounces Three New Renewable Fuels AgreementsUPS® (NYSE:UPS) today announced agreements for up to 46 million gallons of renewable fuels over the next three years, constituting a 15-fold increase over prior contracts and making UPS one of the largest users of renewable diesel in the world. Renewable diesel has a huge impact significantly reducing lifecycle greenhouse gas emissions by up to 90 percent less versus conventional petroleum diesel.
“It took 13 years to drive the first 350 million miles with our alternative fuel and advanced technology fleet,” said Rhonda Clark, UPS chief sustainability officer and vice president of environmental affairs. UPS employees and retirees, friends and families logged 7.2 million volunteer hours since 2011. The commitment to alternative fuel and advanced technologies will allow UPS to reduce its annual use of gasoline and diesel 12 percent by the end of 2017. These services give consumers control over when and where they receive deliveries, which helps UPS avoid unnecessary miles. According to the report, UPS logged 154 million miles in 2014 toward its goal of driving 1 billion miles with the fleet by the end of 2017 – an almost threefold increase from 2013.
Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. “During the quarter, UPS continued to invest for the future by expanding capacity and launching new capabilities that provide higher value to customers,” said David Abney, UPS chief executive officer. Furthermore, we use these adjusted financial measures to determine awards for our management personnel under our incentive compensation plans. UPS Forwarding operating profit and margin expanded as the business unit continued to implement a disciplined pricing strategy across key trade lanes. Operating profit was $1.2 billion, up $35 million or 3.0% over prior-year adjusted results.
By the end of 2015, UPS expects to have more than 8,000 UPS Access Point locations in the U.S. and 22,000 globally. UPS Access Point locations are local businesses, primarily neighborhood convenience and grocery stores, dry cleaners and delicatessens with extended evening and weekend hours. UPS Access Point locations offer convenient package pickup and drop off. The UPS My Choice and UPS Access Point combined service is available in Belgium, Canada, France, Germany, Italy, the Netherlands, Mexico, Poland, Spain, the United Kingdom and the United States. UPS is already solving these consumers’ delivery challenges with UPS Access Point locations in Boston, Chicago, New York City, and the Washington DC and San Francisco metropolitan areas.