UPS to acquire Polish Messenger Service Stolica S.A
UPS (NYSE:UPS) today announced it has agreed to acquire Messenger Service Stolica S.A., one of the leading parcel and express delivery companies in Poland. Terms of the deal were not disclosed.
UPS expects to complete the transaction early in the second quarter of 2005, subject to customary closing conditions.
The Warsaw-based Stolica offers customers a full suite of domestic delivery services through a strong nationwide network backed by advanced technology and an experienced workforce. The company has been operating in Poland, Central Europe’s largest economy, since 1993. Stolica’s customers include some of the most recognized brands in Poland across a broad range of industries, and company sales in 2004 totaled almost PLN 200 million (US$64 million).
“This acquisition is an ideal strategic and operational fit for UPS,” said Wolfgang Flick, president, UPS Europe. “Stolica is a well-established company whose network and capabilities strengthen UPS’s ability to manage local customers’ shipments into, within and out of Poland. UPS has enjoyed a growing business in the country and now will be even better positioned to support companies in Poland with their domestic and international trade needs.”
UPS has offered service in Poland since 1992 and in 2004, the year the country joined the European Union (EU), UPS enjoyed a nearly 35% gain in export volume growth from Poland compared to the prior year.
Jan Tkaczow, Stolica chief executive officer, said: “The sale serves the best interests of our customers as it enables our company to join with a pioneer in package distribution and one of the world’s premier brands in the transportation industry.”
As a result of the acquisition, UPS in Poland will be able to solidify its premium domestic service offering to customers in one of the fastest-growing economies in the EU*, and offer a broader base of customers access to UPS’s vast global delivery network.
UPS is the world’s largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the flow of goods, information and funds. UPS offers customers in Poland a comprehensive service portfolio backed by a fully integrated ground and air network, superior technology and shipping systems and an experienced workforce. In addition, the company provides businesses in Poland customized supply chain, logistics and distribution solutions as well as multi-modal freight services through its UPS Supply Chain Solutions business unit. Headquartered in Atlanta, USA, UPS serves more than 200 countries and territories worldwide. UPS’s stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at ups.com.
*4.5% GDP growth is forecasted for Poland in 2005, according to the Economist Intelligence Unit.
