UPS is set to acquire Polish leading express firm Stolica.
US parcel giant UPS [UPS] has confirmed that it will take full control of Polish Messenger Service Stolica in a bid to strengthen its domestic position in one of the fastest-growing economies in the EU. The move highlights the potential of the new EU countries for international express and parcel delivery companies as they race to establish a firm foothold in the region.
As part of an aggressive effort to further link China to markets around the globe, UPS has opened three new warehouse and distribution centers in Shanghai, Suzhou and Futian and is executing plans to open another 20 facilities in major cities over the next two years. The new facilities, each of which is strategically located adjacent to vital manufacturing centers, expands to more than 40 the number of logistics centers operated in China by UPS Supply Chain Solutions. The supply chain management arm of UPS now plans to open 10 facilities in 2005 and another 10 in 2006.
Read MoreThe Board of Directors of UPS citing its confidence in the company’s financial position and prospects for growth, today increased the quarterly dividend by nearly 18% from 28-cents per share to 33-cents per share on all outstanding Class A and Class B shares. The dividend is payable March 9, 2005, to shareholders of record on Feb. 22, 2005. The Board also announced it had appointed John Beystehner, UPS’s chief operating officer and president of UPS Airlines, to serve as a director. Beystehner will replace UPS Senior Vice President Cal Darden who steps down from the Board on March 31. Beystehner then will stand for election to a regular one-year term at the annual shareowners’ meeting in May.
Read MoreUPS today announced it has agreed to acquire Messenger Service Stolica S.A., one of the leading parcel and express delivery companies in Poland. Terms of the deal were not disclosed. UPS expects to complete the transaction early in the second quarter of 2005, subject to customary closing conditions. The Warsaw-based Stolica offers customers a full suite of domestic delivery services through a strong nationwide network backed by advanced technology and an experienced workforce. The company has been operating in Poland, Central Europe’s largest economy, since 1993. Stolica’s customers include some of the most recognized brands in Poland across a broad range of industries, and company sales in 2004 totaled almost PLN 200 million (USD64 million).
Read MoreShares in British logistics provider Exel closed up 9 percent at a two-and-a-half year high on Tuesday on speculation it is the target of a takeover bid. The BBC reported that industry speculation has focused on United Parcel Services as the most likely bidder. DHL, a unit of Germany’s Deutsche Post, and finance firm GE Capital have also been prominently mentioned. At Tuesday’s market close, Exel was valued at USD6.3 billion. Exel employs 109,000 people in more than 120 countries and has itself been active in the consolidation of the logistics sector, buying UK firm Tibbett & Britten last August.
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