DEUTSCHE POST BUYS STAKE IN GLOBAL FREIGHT EXCHANGE

DEUTSCHE POST BUYS STAKE IN GLOBAL FREIGHT EXCHANGE    Deutsche Post World Net has acquired a 10 percent stake in London-based Global Freight Exchange, an Internet start-up working to develop an online air freight marketplace for airlines and forwarders. Terms were not disclosed.
   GF-X not only wins an infusion of capital from Deutsche Post, but critical support from the world’s largest air forwarder, Deutsche Post-owned Danzas-AEI. GF-X also received another round of capital from existing investors, including Morgan Stanley Dean Witter.
   GF-X will begin testing its system with select forwarders and airlines in May. It hopes to link carrier and forwarder systems to its web site to provide a central repository for global air freight capacity, scheduling and booking information. The exchange is designed to help forwarders and airlines reduce paperwork and manage the risk of pre-selling and pre-buying capacity.