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

ABF Contract Local-by-Local Results

Get the local-by-local vote count for the ABF master contract and every supplement. Click here to view.

An Ugly Start to Electronic Voting

It was an ugly start for electronic voting on national contracts. For the first time in more than a decade, the Hoffa administration tried to deny members and vote count observers the right to see the ballot count results from each local union. But after a week of delays and inquiries by TDU attorney Barbara Harvey, the IBT relented, and turned over the ABF vote totals to TDU's designated observer John Palmer.

View More News Posts