MANILA - LBC Express said Wednesday it was “very interested” in the Philippine Postal Corp. if the government offers it for privatization.
A merger between the country’s two largest delivery services will boost LBC Express’ bid to dominate the industry by expanding its footprint outside the capital, said company president Mike Camahort.
LBC Express is planning a P1.2-billion follow on offer in the first quarter to help fund its expansion into second and third-tier cities. It hopes to add up to 200 branches to its 1,600-strong network this year, he said.
“We want to further expand our coverage in the Philippines. We have the facilities. We have the know-how. We have the knowledge,” Camahort told ANC’s “The Boss.”
Camahort said the volume of shipments handled by the century-old PhilPost would help LBC increase margins.
Cargo traffic has shifted in favor of the provinces, which account for 60 percent of volumes compared to Metro Manila’s 40 percent. The capital used to account for 60 percent, he said.
“We use all forms of transportation to be able to reach the final destination. You would be surprised, sometimes we can use horses and carabaos,” he said.