More UPS freight forwarding buys possible – CFO
United Parcel Service Inc. (UPS.N: Quote, Profile, Research) Chief Financial Officer Scott Davis said on Wednesday future acquisitions in the freight forwarding arena are possible in coming years.
Davis said on a Webcast of a transportation conference held by Citigroup’s Smith Barney unit that UPS was always looking to fortify its network by, for example, adding domestic freight forwarding capacity in the United States.
UPS, the world’s largest package delivery company, recently agreed to buy CNF Inc.’s (CNF.N: Quote, Profile, Research) freight forwarding business, Menlo Worldwide Forwarding. for $150 million cash.
