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New joint venture positions UPS for growth in Middle East, Turkey, Central Asia |
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06.29.2009 |
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UPS will have a majority stake in the joint venture that will acquire Unsped Paket Servisi San ve Ticaret A.S. of Turkey, UPS's largest service contractor. Haluk Undeger, Unsped Paket CEO, will lead the new venture and own a minority share. Specific terms of the deal were not disclosed. Closing is expected in the next 30 days subject to the satisfaction of customary conditions.
'This emerging area covers trade to and from 21 countries where UPS is experiencing increased demand,' said Dan Brutto, president of UPS International. 'The joint venture will spearhead growth among our other service agents and operations in these countries. This part of the world has become a transportation bridge and ideal near-sourcing location for Europe, Russia and Asia. UPS attention in this larger region also will further opportunity in the growing oil and natural gas industry sector.'
The joint venture follows the announcement earlier this year of expanded UPS domestic express small package pickup and delivery services offered in Kazakhstan, Pakistan, Saudi Arabia and United Arab Emirates (UAE). Shipping processes and information visibility for all domestic and international package delivery services in these countries has been streamlined. In January, UPS registered in the free trade zone and assigned a strategy team based in Dubai to develop business goals and priorities.
UPS first entered the Middle East in 1987 when it established import operations in Bahrain. The company expanded to offer a comprehensive service portfolio combining local expertise through service contractors and joint ventures within countries, the first with Gulf Agency Company (GAC) in Kuwait and UAE in 1995. In 2004, Dubai, UAE became an important gateway for 'around-the-world' flights between Europe and Asia to link major business regions and leverage the UPS global network for sorting and bypass operations in the most efficient manner.
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Source:www.ameinfo.com |
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