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United Parcel Service Inc to Acquire Hungarian Healthcare Logistics Company CEMELOG


Thursday, 25 Apr 2013 08:00am EDT 

United Parcel Service Inc announced it will purchase Hungary-based pharmaceutical logistics company, CEMELOG Zrt, as part of its ongoing global growth and investment strategy. The acquisition further strengthens UPS`s healthcare reach and expertise in Europe, enabling comprehensive, compliant services to customers in the pharmaceutical, biotech and medical device industries across the increasingly important markets of Central and Eastern Europe. UPS expects to complete the transaction in the second quarter of 2013, subject to customary closing conditions. Per company policy, terms of the deal are not disclosed. The acquisition adds three additional facilities of approximately 255,000 square feet (24,000 square meters) of healthcare distribution space to UPS`s current European network. The announcement follows the opening of three new dedicated healthcare facilities across Asia in October 2012 and the expansion of five facilities across North America in early 2013. UPS now operates more than 6.4 million sq. ft. (nearly 595,000 square meters) of dedicated healthcare space in 41 facilities worldwide. UBS is acting as financial advisor to UPS. 

Company Quote

111.93
-0.48 -0.43%
26 Dec 2014