Buyout delivers complete ownership to UPS in Vietnam
Wednesday, 11:11, 20/03/2013
UPS has become the first global express delivery company to be wholly-owned in Vietnam after it acquired its venture partner’s 49 percent stake, the company announced on March 19.
The partner was VN Post Express.
“With UPS now wholly-owned in Vietnam, our customers in this growing market are better connected to the world through the UPS global network,” said Brendan Canavan, who heads the company’s Asia Pacific operations.
As a part of its global growth strategy, UPS has invested in new facilities and technology in key commercial and industrial centres across Vietnam, including Ba Ria-Vung Tau, Binh Duong, Hai Duong and Bac Ninh provinces, the company said in a press release.
The company has enjoyed solid growth in Vietnam since it started its operations in 1994. UPS Vietnam’s export volume grew by more than 20 percent in 2012.