UPS “boosts investments by $12bn on favorable tax law impact”

UPS “boosts investments by $12bn on favorable tax law impact”

UPS has announced more than $12bn in investments, which it says is an “an outgrowth of the opportunity for tax savings created by the Tax and Jobs Act”.

In a statement issued today (1 February) UPS said it “plans to raise future capital spending above its previously committed six-to-seven percent of annual revenue”.

The statement added: “UPS will invest an additional $7bn over three years for the construction and renovation of facilities, to acquire new aircraft and ground fleet vehicles, and to enhance the information technology platforms required to support the network, manage the business and power new customer solutions.”

“We applaud President Trump and Congress for their bold action to improve the U.S. economy,” said David Abney, UPS Chairman and Chief Executive Officer.

“Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities.”

(On Friday last week (26 January), FedEx announced that it was “committing more than $3.2bn in wage increases, bonuses, pension funding and expanded US capital investment” following the passage of the Tax Cuts and Jobs Act.)

Relevant Directory Listings

Listing image

SwipBox

Focus on the user experience SwipBox is focused on creating the world’s best user experience for delivering and picking up parcels using parcel lockers. Through a combination of intuitive network management software and hassle-free, app-operated parcel lockers, SwipBox delivers maximum convenience to logistics providers, retailers […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

 

Pin It on Pinterest

Post & Parcel
New CEO for Whistl
Australia Post proposed price increase to help the operator address losses
USPS: new mailing services price changes to take effect July 13
DHL eCommerce: by sustainably growing our operations, we are boosting our capacity
Citizens Advice: Royal Mail’s unfair price hikes are making post less affordable
New CEO for Whistl
Australia Post proposed price increase to help the operator address losses
USPS: new mailing services price changes to take effect July 13
DHL eCommerce: by sustainably growing our operations, we are boosting our capacity
Citizens Advice: Royal Mail’s unfair price hikes are making post less affordable
UPS “boosts investments by $12bn on favorable tax law impact”
1
2
3
4
5
Listing image
Listing image
Listing image
Listing image
SEKO Logistics bolsters global cross-border eCommerce
ByBox UK expansion on the cards with new investor
John Menzies sells distribution arm
Honeywell mobile computers receive Google validation
Share This