UPS Forges China Joint Venture to Tap Country's E-Commerce Boom
- Deal with S.F. Holding provices access to 13,000 customers
- ‘One plus one equals a lot more than two,’ says UPS CEO Abney
UPS Expands China Ties in S.F. Holding Joint Venture
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United Parcel Service Inc. is setting up a joint venture in China to haul more U.S.-bound goods and capitalize on booming e-commerce in the world’s most populous nation.
The partnership with S.F. Holding Co. will offer customers more routes, shipping capacity and service options, the companies said in a statement. S.F. Holding and UPS will each invest $5 million in the 50-50 venture, the Chinese company said in a statement to the Shenzhen stock exchange.