News Content
UPS and Cargojet strike new deal for overnight services in Canada
EXPRESS carrier and package delivery firm, United Parcel Service (UPS) has signed an air cargo service agreement with Cargojet.
In this 10-year deal, UPS has the option to renew the agreement twice for a three-year contract term.
The new accord replaces the previous agreement signed in 2003 when both companies entered into a contract to deliver domestic overnight air cargo in Canada.
A statement from UPS highlighted that the company has closed the acquisition of Coyote Logistics for US$1.8 billion, through a cash and debt transaction. This buyout is expected to generate operating synergies of $100 million to $150 million next year.
"Moreover, we believe that the application of Coyote Logistics' -analytical tool will certainly help the packaging company to manage order overloads," it said.
In the second quarter of 2015, UPS delivered 1.1 billion packages, up 2.1 per cent year over year.
"We believe that a booming health care segment, healthy shipments and yield growth as well as productivity improvements will continue to drive growth at United Parcel.
"Moreover, the company's strategic investments, technology-backed operations and enhanced global network will strengthen its market position and safeguard the company against rivals," the release said.
In this 10-year deal, UPS has the option to renew the agreement twice for a three-year contract term.
The new accord replaces the previous agreement signed in 2003 when both companies entered into a contract to deliver domestic overnight air cargo in Canada.
A statement from UPS highlighted that the company has closed the acquisition of Coyote Logistics for US$1.8 billion, through a cash and debt transaction. This buyout is expected to generate operating synergies of $100 million to $150 million next year.
"Moreover, we believe that the application of Coyote Logistics' -analytical tool will certainly help the packaging company to manage order overloads," it said.
In the second quarter of 2015, UPS delivered 1.1 billion packages, up 2.1 per cent year over year.
"We believe that a booming health care segment, healthy shipments and yield growth as well as productivity improvements will continue to drive growth at United Parcel.
"Moreover, the company's strategic investments, technology-backed operations and enhanced global network will strengthen its market position and safeguard the company against rivals," the release said.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
