UPS Capital to buy Insured Parcel Services
UPS Capital has announced that it is buying the Insured Parcel Services (IPS) business of G4S International Logistics (G4Si). As previously reported by Post&Parcel, UPS Capital recently acquired Parcel Pro, the leading logistics provider to the high-value jewelry, wristwatch and collectibles industries – and so this new acquisition will add more scope to UPS Capital’s offerings in the high-value parcel shipping sector.
“G4Si IPS and Parcel Pro are both players in the secure transportation of luxury, high-value jewelry, which is an industry segment that UPS Capital and UPS are dedicated to serving,” said Ronald Chang, president of UPS Capital.
“This acquisition complements and strengthens our commitment to provide high-value parcel shippers with increased supply chain risk mitigation capabilities and enhanced services across the globe, including the United Kingdom, Germany, Thailand, the United Arab Emirates and Hong Kong.”
According to UPS Capital, customers of the Insured Parcel Services unit of G4Si will now “benefit from everything UPS Capital and Parcel Pro bring to the table, including significantly enhanced technology capabilities, such as mobile apps, API (application program integration) and risk management web tools”. They also will receive coverage up to $150,000 per package in the United States and up to $100,000 in other select countries.
