Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, July 3, 2014

CORRECTED-UPS to invest $1 billion in Europe - CFO in paper, (NYSE: UPS)

United Parcel Service Inc plans to invest $1 billion in its European operations in the next three to five years, mostly in expansion of its logistics centres, Chief Financial Officer Kurt Kuehn told a German newspaper.A big chunk of the investment will go to Germany, one of the express delivery firm's fastest-growing markets, daily Sueddeutsche Zeitung quoted Kuehn as saying in an interview published on Wednesday.He said the new strategy UPS is due to unveil in November includes acquisitions, particularly in the healthcare sector where he said transportation of medicines has been a logistical challenge because they are sensitive to changes in temperature.Kuehn also criticised UPS's German rival Deutsche Post for blocking UPS and other competitors from using parcel boxes the German company had been installing in front of houses in the country.

United Parcel Service, Inc. (UPS) is a package delivery company. Shares of UPS traded higher by 0.68% or $0.7/share to $103.55. In the past year, the shares have traded as low as $85.18 and as high as $105.37. On average, 2627720 shares of UPS exchange hands on a given day and today's volume is recorded at 2175055.