Product category:
General Print Supplies, Services for Printers
News Release from: Williams Lea
Edited by the Printingtalk Editorial
Team on 17 February 2006
Long Speculation Ends Over
Williams-Lea's Future
Williams Lea has signed an exclusive agreement whereby logistics group Deutsche Post World Net will acquire a majority equity stake in the London (UK) company.
Williams Lea has signed an exclusive agreement whereby logistics group Deutsche Post World Net will acquire a majority equity stake in the London (UK) company The move follwos speculation in the industry about Williams Lea's future
This article was originally published on Printingtalk on 22 Jul 2004 at 8.00am (UK)
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The transaction is subject to regulatory approval and is expected to complete in March said the company.
Founded in 1820, Williams Lea currently employs over 6,500 people and generated revenues of GBP438 million in the year to 30 September 2005.
The company said it has demonstrated consistent organic growth rates in excess of 20 per cent per annum over a 10-year period.
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Deutsche Post World Net has pledged its long-term support for Williams Lea's future growth strategy and the agreement will enable Williams Lea to continue to invest in its corporate information solutions services, said the company, thereby improving its service to clients.
The company will continue to operate as an independent entity, retaining a separate board and brand.
The existing management, employee stakeholders and Williams family will retain a major shareholding in the company.
Tim Griffiths, Williams Lea's chief executive, commented: "We are delighted with the outcome of our recent negotiations and Deutsche Post World Net's decision to become our principal investor.
Their business is wholly complementary to ours and we are eager to draw on their extensive business experience as a major global organisation in international mail logistics." He added: "In recent years, we have built a leading position in the corporate information solutions market and Deutsche Post World Net has pledged full support for our plans to accelerate this growth.
With their backing, we are confident that we will be able to satisfy even larger and more complex business process outsourcing requirements for our clients, on a truly global scale." Dr Hans-Dieter Petram, a member of the Deutsche Post World Net World Net board, commented: "We have been very impressed with Williams Lea and its management team.
It has demonstrated an impeccable track record for delivering growth, integrating acquisitions and delivering a best-in-class service to clients.
With a sustained high rate of growth in the corporate information market, we have, for some time, been examining how best to enter this marketplace and complement the strong position of our international mail unit, DHL Global Mail, as a leader in worldwide mail activities." He added: "Today's agreement presents a unique opportunity for DHL Global Mail to partner and grow with a leader in corporate information solutions.
We see considerable potential to exploit our world class mail and logistics capability in adding more value to Williams Lea's customer proposition.".
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