Deutsche Post’s Appel Sees Continued Rise in U.S. Market Share
Deutsche Post AG (DPW) has won market share from competitors FedEx Corp. (FDX) and United Parcel Service Inc. (UPS) in the past two years in the U.S., and plans to continue the push after building new express hubs and modernizing its vehicle fleets in North and South America.
“We are head-to-head competitors with UPS and FedEx, the difference is that we have won market share in the U.S. in the last two years,” Chief Executive Officer Frank Appel said today in an interview on Bloomberg Television. The company plans to continue wrestling share from these rivals in its express, supply chain and global forwarding units in North and South America, he said.
A free trade agreement between the European Union and the U.S. may generate at least 1 percent of additional growth in both regions, Appel said. U.S. and European leaders have shown increased interest in opening the $15 trillion U.S. economy to the $13.1 trillion of goods and services produced by the 17-nation euro region.
The move would create the world’s largest free-trade zone. Companies like Deutsche Post, which claims the lead in the global air freight market and is also among the largest sea freight senders, would be beneficiaries of increased trade.
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