Cargus targets business worth €45 mln in 2008

“This value means 50 percent growth on last year, due to the company’s development and new services,” Cargus President Augustin Plesea told Business Standard.

Plesea declined to comment on rumors regarding the sale of a 30 percent package of Cargus to international delivery company DHL. According to market sources, DHL could pay tens of millions of euro for 30 or 51 percent of Cargus. DHL representatives said “any decision regarding collaboration with third parties locally follows the policy of international shareholders.” The company is owned by Deutsche Post World Net.

Meanwhile, Cargus is carrying out a development strategy, including new offices, a modernization process, and an increase in its car fleet, for which it has allocated some €3 million. Furthermore, the company announced last year it was negotiating the takeover of a smaller delivery company in Bucharest.

Cargus’ main competitors on the local market are Fan Courier, Curiero and TCE Logistica. However, analysts in the field say the Romanian market is dominated by multinational companies DHL and TNT.

Romania’s EU accession and the expected liberalization of postal services have increased the local market’s growth potential, up to €500 mln in the coming two years, and led to an increase in interest of international companies to acquire local players.