UPS (NYSE:UPS) today announced that it has become the first global express delivery company to be wholly-owned in Vietnam, following its acquisition of the 49 percent interest of VN Post Express in the two companies' express delivery joint venture. The change will allow UPS to better connect Vietnam's rapidly expanding economy to world markets through the UPS network.
“UPS has served Vietnam since 1994, offering its wide range of logistics solutions to multinational corporations and small and mid-sized enterprises alike,” said Jeff McLean, General Director of UPS Vietnam. “We have seen the transformation of the country to the dynamic export-oriented economy it is today and UPS has grown in parallel with the market. Wholly-owned operations will give us the flexibility to further expand our operations and grow in partnership with Vietnamese businesses.”UPS has enjoyed solid growth in Vietnam since it started its operations in 1994. With the country’s increased economic activity last year, UPS Vietnam’s export volume growth grew by more than 20% in 2012. UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.