UPS CAPITAL CORP. OPENS HONG KONG OPERATION

UPS CAPITAL CORP. OPENS HONG KONG OPERATION

      UPS Capital Corp., the trade financing arm of United Parcel Service, has opened UPS Capital Global Trade Finance to market exports receivables financing and a letters of credit service to exporters in Hong Kong.

   UPS said it plans to expand UPS Capital’s reach throughout Asia. Stuart Reichenbach will manage the region for UPS Capital’s Global Trade Finance division. UPS Capital also plans to open offices in Europe.

   “With over 290,000 small- to mid-size enterprises in Hong Kong, there is a strong demand for financial services in Asian markets,” said Mike Humphreys, president of UPS Capital Global Trade Finance. “The flexibility we offer in cash management is key for companies that are in the early stages of developing new product lines or exploring new markets.”

   UPS Capital Global Trade Finance, a separate division of UPS Capital Corp., will offer credit risk mitigation, financing and payment administration services targeted to smaller trading companies.