- 31 August 2017
- Transport / Logistics Services
Austrian Post has announced it has acquired a 31.5% stake in Czech parcel delivery firm IN TIME.
The Austrian postal operator has released a statement that said it “will integrate IN TIME in the Austrian Post parcel network over the long term”.
“In the near future,” added Austrian Post, “the focus will be on know-how transfer as well as financial support for investments to further develop IN TIME. The objective is for IN TIME to become a leading provider of B2C (delivery to private individuals) and B2B (delivery among companies) parcel solutions on the Czech market.”
IN TIME was founded in 1990 as the first post-communist private courier and parcel delivery service in the Czech Republic. IN TIME delivered around four million parcels in 2016 and generated an annual revenue of nearly €10 million in the last financial year.
Austrian Post has made a number of acquisitions recently and now operates in 12 European countries. Both Austrian Post and IN TIME are members of the EURODIS logistics network.
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