Eesti Post Should Be Privatized, Says Supervisory Board Chair (6)

Photo: Postimees/Scanpix
1/31/2013 11:12 AM
Category: Economy

Meelis Atonen, chairman of Eesti Post's supervisory board, said there are no arguments left for keeping the postal company under state ownership.

“State owned companies have limited opportunities, investments and expansion plans are always questionable, and we have to concentrate on the local market, but the keyword in the logistics business is range,” Atonen told Eesti Päevaleht.

Eesti Post turned a profit of 1.5 million euros last year and Atonen values the company at 20 to 25 million euros.

Atonen added that the time to privatize is now as state-ownership hinders international expansion.

Juhan Parts, the minister of economic affairs, said that an analysis is needed before a decision can be made on the issue.

Eesti Post has invested heavily in the Baltics in recent years, acquiring Lithuanian package delivery company Unipakas UAB in October and launching a parcel lockers service in Latvia in November.

The company said in a press release yesterday that it plans to invest 15 million euros into Baltic markets over the next few years.

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