UPS eagerly aim for a 10 percent volume growth for 2001
“Our growth in other parts of the world outside of the U.S. is really a very important part of our future,” chairman and chief executive officer James Kelly told a news conference. “We expect to see much higher percent growth rates in Asia, Europe and Latin America than we do in the United States.”
Kelly, speaking before the launch of the company’s S$38 million ($21.4 million) facility in Singapore, said UPS would continue to make strategic investments in Asia for long-term growth but declined to reveal details.
U.S. domestic package volumes now represent about 80 percent of its business.Kelly said the firm was feeling the impact from the economic downturn and currently had a hiring freeze in the United States but had not laid off staff. UPS has 358,000 employees worldwide.
Although air freight volumes had slowed, Asia-Pacific president Charles Adams said he was hopeful for a turnaround towards the end of 2001 as inventories were used up.
“I’m fairly optimistic that by the end of this year we should hopefully start to see some turn,” he said. “What has been encouraging is that U.S. consumers are still consuming, they’re still spending.”
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Author:Newsdesk, eyefortransport.com
