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 rallied last year after seeing a fall in both pre-tax profits and turnover in 2019, according to its latest annual results.
The European Commission (EC) said the aborted UPS and TNT merger would have increased prices and would not have been challenged enough by other carriers. The regulator officially blocked the merger from taking place on 30 January, claiming it would have restricted competition for express delivery between European countries in 15 nations. It also said that the acquisition would have reduced the number of “significant players” to two in some countries, which it claimed would have “likely harmed customers by […]
UPS expects minimal disruption from today’s (22 November) strike at its Camden depot in London, and remains confident an agreement can be reached with Unite.