Tag: UPS

UPS expanding global service in wake of US economic downturn

Posted by | Jan 9, 2008 | |

United Parcel Service (UPS) is expanding an international air-freight service that guarantees delivery dates in the wake of a slowing US economy, the Toronto Star reports.
The UPS Express Freight service will more than triple the amount of express lanes currently served, UPS officials said.
The service, which now reaches 52 countries, is designed to provide guaranteed time-definite, overnight-to-three day door-to-door delivery including routine customs clearance to major global metropolitan areas.
UPS has been boosting international revenue at a faster rate than in the US, where the economic expansion is waning, according to the Toronto Star. The report said UPS international operations accounted for 28 pct of the company’s total revenue in 2006.

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UPS adopts new financial policy to enhance shareholder value

Posted by | Jan 9, 2008 | |

UPS today announced its Board of Directors has approved a change in financial policy regarding the company’s capital structure designed to enhance UPS’s value to shareowners. Under the new policy, UPS intends to significantly increase the debt component of its balance sheet.

Going forward, the company intends to manage its balance sheet to a target debt ratio within a range of 50-to-60 pct funds-from-operations-to-total-debt. Previously, there was no stated metric.

“We have been studying our capital structure options for some time,” said Kurt Kuehn, UPS’s chief financial officer. “This change in policy will permit us to make increased investments in the business, pursue selective acquisitions and undertake larger share repurchases.”

To begin implementation of the new policy, the Board authorized an immediate increase in the amount of funds available for stock repurchases from approximately USD 2 billion to USD 10 billion. The company intends to complete that level of share repurchases in the next 24 months. Repurchases may take the form of an accelerated share repurchase program, open market purchases or such other methods as the Board deems appropriate.

“UPS has had a long-standing commitment to a very strong balance sheet for decades and that will not change,” added Scott Davis, UPS’s chairman and CEO. “Indeed, we are putting that balance sheet strength to work to more efficiently deploy capital for the benefit of our shareowners. UPS’s consistent, stable cash flows mean we can accept a higher degree of debt while continuing to strategically grow our business.”

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DHL to offer shipping services from Walgreens

Posted by | Jan 8, 2008 | |

DHL said on Wednesday it has entered into an agreement with Walgreen Co to offer shipping services from Walgreen’s stores by the end of 2008.

DHL said in a statement that the agreement to offer overnight, ground or international package shipping services from 6,500 stores — Walgreen is projected to have that many outlets by the end of this year — will more than double its retail presence in the United States.

The “DHL Shipping Spot” will be staffed by Walgreen employees at photo counters, DHL said.

DHL has a far smaller U.S. presence than United Parcel Service Inc and its main rival FedEx Corp, which dominate the market.

Both package giants have their own branded retail presence, FedEx Kinko’s and UPS Stores.

DHL generated about USD 4 billion of revenue in 2006.

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Torok retiring as Head of UPS Asia; Derek Woodward named as successor

Posted by | Jan 8, 2008 | |

Ken Torok, who for the past five years has guided UPS’s Asia Pacific operations, will retire this spring and be replaced by Derek Woodward, a long-time UPS manager who currently works as one of Torok’s top deputies.

Woodward, 45, is a Canadian native who joined UPS in 1985 as a part-time package sorter and then driver. Seventeen of his 23 years in the transportation and logistics industry have been spent working outside North America for UPS in a wide variety of marketing, business development and sales positions. He moved to Singapore last year to serve as a senior vice president to Torok, responsible for all staff functions for the Asia Pacific Region.

The succession will take effect on April 1.

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UPS launches new global air freight portfolio

Posted by | Jan 7, 2008 | |

UPS launched a simplified global portfolio for shipping air freight, including a substantially expanded express freight option with guaranteed door-to-door service.

The new air freight portfolio features a greatly expanded international express service called UPS ExpressSM Freight. It more than triples the number of express lanes currently served and provides guaranteed time-definite, overnight-to-three day door-to-door delivery including routine customs clearance to major global metropolitan areas.

For less time-sensitive global movements, UPS offers two non-guaranteed alternatives: UPS Air Freight DirectSM is a one-to-three day airport-to-airport service, and UPS Air Freight ConsolidatedSM is a three-to-five day airport-to-airport service. Both services are available worldwide and offer pickup, delivery and customs clearance as optional features. Freight shipments may move on either UPS or third-party aircraft, providing the ultimate in flexibility.

By combining the capabilities of the world’s 9th largest airline with UPS’s position as a global freight forwarder with access to other airlines, UPS becomes the only transportation and supply chain provider offering guaranteed integrated air freight services in a single portfolio. And from an operational standpoint, UPS is introducing automatic online day-specific scheduling for customers whose freight shipments are moving on third-party aircraft. This level of predictability has been an important missing link in the air freight forwarding market.

Moreover, the new freight portfolio represents another step in UPS’s drive to offer customers a complete range of U.S. domestic and international package and freight shipping options along with supply chain and logistics services, all available worldwide from one trusted source.

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