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

Online Workshop—Grievance Handling: Best & Worst Practices

Review best practices for handling grievances and how to avoid common pitfalls, mistakes and traps in our latest online workshop for Teamsters on Sunday, December 13, at 11 am Eastern / 10 am Central / 9 am Mtn / 8 am Pacific.

Team Canada IBT Slate is Accredited

The two IBT vice presidents from Canada and the president of Teamsters Canada have petitioned among Canadian Teamsters to accredit the Team Canada Slate in the IBT Election.  Yesterday the Election Supervisor reported that they submitted 8,156 petition signatures, far more than the needed number of 2,807 in Canada.

View More News Posts