Signed, sealed and delivered
United Parcel Service (UPS), the world's largest package delivery company, has agreed to buy Messenger Service Stolica SA. The deal should be closed in the coming months.
UPS intends to build on its existing Polish network and did not disclose the terms of the deal. In 2004, Stolica's sales were more than zł.200 million. UPS has been in Poland since 1992 and last year it enjoyed a 35 percent surge in packages shipped from the country.
"This acquisition is an ideal strategic and operational fit for UPS," said president of UPS Europe, Wolfgang Flick. "Stolica is a well-established company whose network and capabilities strengthen UPS's ability to manage local customers' shipments into, within and out of Poland. UPS has enjoyed a growing business in the country and now will be even better positioned to support companies in Poland with their domestic and international trade needs."
In 2004, UPS's sales rose 23 percent in the last quarter to almost zł.6 billion, buoyed by a 34 percent increase in shipments from Asia and Europe. The company is also buying 11 used Boeing MD-11 aircraft to help move more shipments by air.
UPS intends to build on its existing Polish network and did not disclose the terms of the deal. In 2004, Stolica's sales were more than zł.200 million. UPS has been in Poland since 1992 and last year it enjoyed a 35 percent surge in packages shipped from the country.
"This acquisition is an ideal strategic and operational fit for UPS," said president of UPS Europe, Wolfgang Flick. "Stolica is a well-established company whose network and capabilities strengthen UPS's ability to manage local customers' shipments into, within and out of Poland. UPS has enjoyed a growing business in the country and now will be even better positioned to support companies in Poland with their domestic and international trade needs."
In 2004, UPS's sales rose 23 percent in the last quarter to almost zł.6 billion, buoyed by a 34 percent increase in shipments from Asia and Europe. The company is also buying 11 used Boeing MD-11 aircraft to help move more shipments by air.
