DHL Corporation and Subsidiaries - Page 5

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          interest to Hillblom and Dalsey, each of whom owned 50 percent of           
          petitioner as of November 1972, and Dalsey retired in 1984, and             
          his shares were redeemed or transferred to other shareholders.              
               Petitioner’s initial business activity was to pick up and              
          deliver time-sensitive documents and small packages by means of             
          regularly scheduled domestic airline flights between Hawaii and             
          California.  During 1970, a California corporation was formed to            
          handle documents and packages between Los Angeles and San                   
          Francisco.  Hillblom recruited John T. Atwood (Atwood) and                  
          William A. Robinson (Robinson) from another courier service to              
          operate the Los Angeles to San Francisco business, which was                
          merged with DHL on November 11, 1972, at which time Robinson and            
          Atwood were each given a 7-percent stockholding interest in DHL.            
          During 1972, a station was established in Hong Kong and                     
          incorporated there under the name Document Handling Limited,                
          International (DHLI).  DHLI was incorporated in Hong Kong on                
          March 14, 1972, and its stock was owned 99 percent by DHL and 1             
          percent by Dalsey.  Po Chung, a Hong Kong resident, was recruited           
          by Dalsey to act as DHLI’s first manager.  By late 1972 or early            
          1973, DHL was also offering service through a variety of entities           
          to Guam, Hong Kong, the Philippines, Japan, Thailand, Australia,            
          and New Zealand.                                                            
               The national and international expansion of DHL’s activity             
          was accomplished by employees and/or stockholders going to a new            

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Last modified: May 25, 2011