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.

Get Advice Join TDU Donate

Recent News

Stand Up Slate Wins in Cincinnati Local 100

Teamster members in Cincinnati Local 100 put their support strongly in the reform and ready for change camp. All twelve Stand Up candidates were victorious, defeating the incumbents in a three-way race. This marks another victory for reform minded Teamsters looking to change our union.

The Return of Rome Aloise: A Dark Day

After serving a two-year suspension from his union offices and salaries for corruption, Rome Aloise will reclaim his International vice president position on December 22. This is just a few hours after the Winter Solstice, which marks the start of winter and is the darkest day of the year.

View More News Posts