PIN Group
 |
|
| Public | |
| Industry | Postal Service, Courier |
| Founded | 1999 / 2005 |
| Headquarters | Leudelange, Luxembourg |
|
Key people
|
Horst Piepenburg, CEO |
| Products | Service company |
| Revenue | €168.3 million (2006) €275.0 million (2007) |
|
Number of employees
|
9000 (Dec 2007) |
| Website | www.pin-group.net |
The PIN Group was a German courier and postal services company. It belonged to PIN Group S.A., a Luxembourg-based corporate affiliation made up of several German postal companies.
The PIN Group originally traded under the name Briefdienstleistungsunternehmen PIN intelligente Dienstleistungen AG, a postal services company founded in 1999 in Berlin. In 2004, Axel Springer AG and the publishing group Verlagsgruppe Holtzbrinck each bought a majority shareholding of 30% from the company founders and venture capital company DKB Wagniskapital GmbH. In October 2005 the remaining shares of the PIN founders were acquired by WAZ-Mediengruppe and the Luxembourg investment company Rosalia Investment S.A. before founding the PIN Group. In the summer of 2006 the newspaper publishers Madsack, M. DuMont Schauberg, Rheinisch-Bergische Verlagsgesellschaft and W. Girardet merged their postal services divisions into the company, receiving in return a 10 per cent holding of PIN Group AG. Following the takeover of Briefnetz Süd GmbH & Co. KG (BNS), a consortium of postal services providers owned by 12 newspaper publishers in Bavaria and Baden-Württemberg, since April 2007 the PIN Group has operated a mail delivery network throughout the whole of Germany. To offer delivery services to German authorities and government departments, the PIN Group acquired Ulm-based postal services provider DirektExpress.
Since June 2007, the majority shareholder in the PIN Group has been the Axel Springer publishing company, after raising its holding from 23.5% to 71.6%. Axel Springer bought these shares from WAZ, Holtzbrinck and Rosalia for €510 million.
The holding company, PIN Group S.A. is responsible for laying down the strategy of the entire corporate affiliation and planning day-to-day operations, which are managed and organised by the German subsidiaries and shareholding companies.
In February 2007 around 7000 people worked for the PIN Group. The chairman of the executive board, Günter Thiel announced that the company planned to expand to more than 20,000 employees by the end of 2007
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Wikipedia