UPS Plans to Invest $1 Billion in European Operations

Transport Topics
July 07, 2014

UPS Inc. plans to invest $1 billion in its European operations in the next three to five years, chief financial officer Kurt Kuehn told a German newspaper, Reuters reported.

A majority of the investment would go to expanding the company’s logistics centers in Germany, one of the company’s fastest growing markets.

Kuehn said the company’s new strategy will be announced in November and involves acquisitions, especially in the health-care sector, according to Reuters.

In January 2013 ,UPS abandoned its $6.8 billion bid to buy European package carrier TNT Express NV after European regulators moved to block the deal. The company said it would focus on other acquisitions consistent with its long-term growth strategy.

UPS is ranked No. 1 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Carhaul Contract Votes Finally Revealed

One month after the fact, the Hoffa administration has finally revealed the local-by-local vote results on the Jack Cooper contract vote of September 12. It took them one month to tally 25 numbers?

Members Elect Reformers to Rebuild 71

After Voting No against contract givebacks, members have voted out pro-Hoffa officers in Charlotte Local 71.  Members elected TDU activist Willie Ford and the Rebuild 71 Slate to lead their local. Ford beat the incumbent president by 757 to 286.

View More News Posts