FRANKFURT, July 2 United Parcel Service Inc
plans to invest $1 billion in its European operations in
the next three to five years, mostly in expansion of its
logistics centres, Chief Financial Officer Kurt Kuehn told a
A big chunk of the investment will go to Germany, one of the
express delivery firm's fastest-growing markets, daily
Frankfurter Allgemeine Zeitung quoted Kuehn as saying in an
interview published on Wednesday.
He said the new strategy UPS is due to unveil in November
includes acquisitions, particularly in the healthcare sector
where he said transportation of medicines has been a logistical
challenge because they are sensitive to changes in temperature.
Kuehn also criticised UPS's German rival Deutsche Post
for blocking UPS and other competitors from using
parcel boxes the German company had been installing in front of
houses in the country.
Deutsche Post has said customer response to the parcel
boxes, which it started setting up earlier this year, were
positive as books, electronic gadgets and other goods ordered
from Amazon and other online retailers could easily be
delivered right to their doorsteps.
(Reporting by Marilyn Gerlach, editing by Louise Heavens)