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

1,500 Kroger Teamsters Exit the Central States Fund

Teamster employed at three Kroger warehouses and two dairies have been removed from the Central States Fund, in an arrangement similar the removal of 44,000 UPS Teamsters in 2007.  

The Push is On for Butch Lewis Act

Today, at a press conference held in Washington D.C., Mike Walden, president of the National United Committee to Protect Pensions (NUCPP), reminded the assembled press and Congressional staffers, Senators and House Representatives, delegations of Teamsters and Mineworker retirees, of Butch Lewis’s remark, “A promise is a promise is a promise.” It’s that promise that this movement has grown to defend. And it’s happening loud and strong as we reach for the new law that will protect that promised retirement security.

View More News Posts