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Hungary link with DHL
Page 18
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• Hungarian state-owned haulier Hungarocamion has launched a massive expansion in Eastern Europe and beyond. It plans to issue up to two billion Forints (223.3 million) in shares and to link up with the American carrier DHL in a joint parcels company. New laws, expected to be passed by the summer allow Hungarian companies to issue shares. The new joint company, 49% of which will be owned by DHL, will carry parcels in Eastern Europe and the Soviet Union, where the market is growing by 100% a year. There were 300,000 deliveries in the Eastern Bloc last year.
Hungarocamion plans to modernise its 1,800 fleet through the shares issue, although the state will keep a majority stake in the company. The haulier is one of the biggest in Eastern Europe.