Courier joint venture

New Zealand Post and Deutsche Post have formed a A$200 million ($254 million) Australian courier business joint venture.

Express Couriers Australia follows a similar arrangement in New Zealand between Deutsche Post's DHL Express unit and NZ Post.

Express Couriers takes in six businesses throughout Australia, including three under NZ Post ownership, and covers more than 80 per cent of the population.

The companies have combined annual revenues of at least A$200 million.