UPS has acquired specialist international and temperature-controlled load broker Freightex for an undisclosed sum, and will merge it with Coyote Logistics – a similar business in North America that UPS acquired in August 2015. Tim Phillips, Freightex chief executive, will remain with the business – which will operate as a wholly-owned subsidiary of UPS, which said that there was a “significant cross border opportunity” to “expand UPS’s existing carrier base to create more value for customers and carriers from the […]
UPS has appointed David Abney as CEO. He replaces Scott Davis, who will retire later this year.
TNT Express has said it hopes to see a “positive impact” from its profit improvement plan in the second half of 2013, after reporting a 26% drop in first quarter EMEA (Europe, Middle East and Africa) operating profit.
The European Commission’s decision to prevent UPS from acquiring TNT Express “risks reducing competition, not increasing it”, an analyst at Transport Intelligence said. UPS has now pulled out of its multi-billion Euro plans to take over TNT Express, which the logistics analyst believes highlights the scale of the challenges the US parcel carrier faced in regard to meeting the regulatory requirements. Transport Intelligence head of consultancy Joel Ray said: “Their decision making process looks flawed, caused by a fundamental lack of […]