Deutsche Post buys remainder of courier firm Servisco

Deutsche Post has acquired a 40% stake in courier company Servisco from Polish shareholders for an undisclosed sum, bringing its ownership to 100%. Servisco's share in the Polish courier services market is estimated at 35%-40%. The company has 40 offices, three sorting centers and last year recorded revenues of euro 71 million. The German owner plans to integrate Servisco with the Eurocargo division of another of its subsidiaries - transport and forwarding company Danzas. Zbigniew Twardowski, president of Messenger Service Stolica, another leading Polish courier company, claims that Deutsche Post does not represent a threat to his organization as the two companies operate on slightly different markets. However he added that after the postal market is liberalized, Deutsche Post will become a powerful competitor to Pocztex, the express courier service offered by Poczta Polska (the Polish Post Office). (Puls Biznseu, p.3) T.J.