Freight UPS and China's SF Holding establish a joint venture
- Aaron Püttmann
The US-based cargo supplier UPS has announced plans to establish a joint venture with China's SF Holding, the parent company of SF Express.
The new cooperation aims at developing and providing international delivery services initially from China to the US, with expansion plans for other destinations. Through this agreement the parties will leverage their complementary networks, service portfolios and technology. The joint venture is subject to regulatory approval.
“This joint venture will support products that provide competitive benefits to our Chinese customers who trade or seek to trade internationally,” said Ross McCullough, President of UPS Asia Pacific. “Our combined efforts will result in new logistics products and services to simplify and accelerate B2B and B2C customers’ cross-border trade.” The joint venture will initially focus on supporting the highly competitive joint service offerings on the China-to-US lane, with planned expansion to markets in the rest of the world.
Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS operates a fleet of 237 cargo aircraft including 75 Boeing 757-200F and 13 Boeing 747-400F. SF Holding the parent company of integrated express logistics service provider in China, SF Express, offers logistics services to the full supply chain, including production, supply, sales and distribution. SF Airline serves destinations in China, Hong Kong, Taiwan and Cambodia with a fleet of thirty-eight Boeing cargo aircraft.
Source © ups.com