UPS adds density to Poland delivery network
UPS said it plans to buy Polish delivery company Messenger Service Stolica S.A., part of a continuing expansion of its network in Europe.
The Atlanta-based parcel and logistics giant said it expects to complete the acquisition early in the second quarter. Terms of the transaction were not disclosed.
Stolica had revenue of $64 million last year.
UPS has offered service in Poland since 1992 and experienced a 35 percent gain in export volume growth from Poland in 2004 after Poland joined the European Union. The acquisition will allow UPS to offer better service in Poland, where the economy is expected to grow 4.5 percent next year.