Serbian postal service plans acquisitions in region

BELGRADE PTT Srbija (Post Serbia) Director Milan Krkobabic has said that this public company plans to expand in the region. He specified that PTT was looking to acquire "some of the postal services in the region". Serbian postal service plans acquisitions in region "Instead of going for privatization of PTT, the management's idea is to try and buy something in the region. Do not be surprised if we show our interest in Montenegrin Post, and (postal services of) surrounding countries," he was quoted as saying on Friday. Krkobabic stressed that the company's strategic business plan envisaged that it would remain whole, while ideas about privatizing some units have been rejected: "We will not repeat the experiences from the neighboring countries. This system will strengthen, it will be profitable, fill the budget and create new jobs. We put an end to all attempts to sell, sell off, and disintegrate the (PTT) system." Krkobabic also noted that the company signed a contract to buy equipment worth EUR 10.5mn from Toshiba to modernize the country's three main postal hubs. New machines will be able to read any address, whether handwritten or printed, both in Cyrillic and Latin alphabets, while packages with incomplete addresses will be video-coded, he explained, and added that at this point, only the postal services of Serbia and Albania do not have automatic sorting. Krkobabic also revealed that PTT ended 2012 with a profit - "most of which will go to the state budget, while some will be given to employees." Milan Krkobavic (Beta, file) Beta

Serbian postal service plans acquisitions in region

"Instead of going for privatization of PTT, the management's idea is to try and buy something in the region. Do not be surprised if we show our interest in Montenegrin Post, and (postal services of) surrounding countries," he was quoted as saying on Friday.

Krkobabić stressed that the company's strategic business plan envisaged that it would remain whole, while ideas about privatizing some units have been rejected:

"We will not repeat the experiences from the neighboring countries. This system will strengthen, it will be profitable, fill the budget and create new jobs. We put an end to all attempts to sell, sell off, and disintegrate the (PTT) system."

Krkobabić also noted that the company signed a contract to buy equipment worth EUR 10.5mn from Toshiba to modernize the country's three main postal hubs.

New machines will be able to read any address, whether handwritten or printed, both in Cyrillic and Latin alphabets, while packages with incomplete addresses will be video-coded, he explained, and added that at this point, only the postal services of Serbia and Albania do not have automatic sorting.

Krkobabić also revealed that PTT ended 2012 with a profit - "most of which will go to the state budget, while some will be given to employees."