Poczta Polska to take over two courier firms this year

The post office (Poczta Polska - PP) plans to take over two companies by the end of the year. "The takeovers concern courier companies also offering electronic mail services," said Andrzej Siniakiewicz, deputy head of PP. By the end of 2005 PP is to invest zl. 1 billion for this purpose and estimates that in total the investment outlays will amount to zl. 4.1 billion. Apart from the takeovers the biggest expenses will be earmarked for the modernization of the logistics infrastructure - zl.6 billion, computerisation - zl. 680 million, and modernisation of its network of branches - zl. 690 million. The strategy presupposes the development of the post office on the following markets: courier, trade, logistics, Internet, and financial services. In order to fulfil the project PP plans to obtain a long-term loan totalling zl. 700 million. (Puls Biznesu, p. 6) A.C.