UPS to construct additional 20 logistics facilities in China

The world well-known express delivery company UPS will construct additional 20 logistics facilities in China in 2005 and 2006, David Abney, president ofUPS International, was quoted as saying.
In the future, the company will have 60 logistics infrastructures in the country. The group had injected USD 500 million (USD 1 = CNY 8.27) in the construction of infrastructure in the past several years.
The Chinese market is growing to be mature, and the group is cultivating its sales group and creating self-owned transportation systems step by step. In particular, the companywill bring its technical system to the Chinese market.
UPS will have to pay USD 100 million for taking over businessesin 23 regions of China from Sinotrans, in accordance with an agreement the two sides had signed in December last year.
UPS has completely taken over the networks of Sinotrans in Guangzhou, Shenzhen, Shanghai and other cities for the moment.