Deutsche Post Ups Investments in U.S. Market

Germany's Deutsche Post said it will spend $1.2 billion over the next three years to improve the U.S. operations of its DHL parcel delivery subsidiary. "This investment marks an historic turn in the express and ground parcel delivery business as DHL brings a strong alternative to the U.S. shipping market, providing a much needed choice to businesses and consumers across America," John Fellows, CEO of DHL Express Americas, said in a statement on Friday. The funds will be invested in parcel logistics, expanding sorting facilities, information technology and marketing, the company said. The Deutsche Post subsidiary is aiming to win market share from its major competitors in the United States, including FedEx and United Parcel Service.