Tag: UPS

UPS sees growth despite higher fuel costs, prices

Posted by | Sep 1, 2004 | |

United Parcel Service Inc. expects business to keep growing even as it passes higher fuel costs on to customers, its chief executive told a newspaper.
“So far we have detected no signs that business is declining,” Michael Eskew said in a interview to be published in Thursday’s Financial Times Deutschland.
Sales volume has not dipped, he said, even though UPS is passing on higher fuel costs directly to clients and airmail packages have become 7.5 percent more expensive to send. Rival Fedex told Reuters in an interview earlier this week that escalating fuel costs are no threat to its business as they are being offset by higher productivity and efficiency.

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UPS Expands Real-World Testing of Hydrogen Fuel Cell Technology

Posted by | Aug 26, 2004 | |

Buoyed by initial road-test results and significant technological advancements, UPS today announced the U.S. deployment of its first three large package delivery vehicles utilizing hydrogen fuel cells for power. “Shifting away from a fossil fuel based economy to a hydrogen economy would be a great environmental and technological achievement,” said Chris Mahoney, UPS senior vice president of global transportation services. “UPS now is jumping from a small fuel cell car to a medium-duty truck. We will continue the rapid application of this technology in hopes that in the near future, we can deploy zero-emission engines across our fleet of 88,000 vehicles.”

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Rivals fret as China Post unveils fast delivery bid

Posted by | Aug 25, 2004 | |

Foreign express freight operators on the mainland have voiced fair-play concerns over a new service launched by China Post to try to regain lost market share. China Post lost its monopoly under World Trade Organisation competition rules which allowed foreign companies access to the mainland market two years ago. China Post’s share of the burgeoning express delivery market has slumped from 97 per cent to under 40 per cent in the face of competition from DHL, FedEx, UPS and TNT. Now China Post is fighting back with a new all-night freight service between 136 cities in 27 provinces.

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UPS Canada names new president

Posted by | Aug 16, 2004 | |

Glenn Rice, a 27-year veteran of United Parcel Service and a native of Cleveland who started out as a package car driver, has been promoted to president of UPS Canada.

He replaces Alan Gershenhorn, who will become UPS supply chain’s president of global transportation and shared services.

“With Canadian exports totalling 457.8 billion dollars in 2003, my primary focus will be continuing to drive the acceleration and development of UPS’s international and cross border business,” Rice said in a release.

Rice, who has a bachelor’s degree in business management, was once a district manager in UPS’s Ohio region and its Desert Mountain region. He was promoted in 1998 to manage UPS’s Alabama region and moved to Kansas in 2000 to oversee 18 company departments.

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UPS board sets quarterly dividend

Posted by | Aug 12, 2004 | |

The Board of Directors of UPS have declared a regular quarterly dividend of 28-cents per share on all outstanding Class A and Class B shares.

The dividend is payable Sept. 8, 2004, to shareholders of record on Aug. 23, 2004. The board acted during a regaularly scheduled meeting.

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