February 1, 2018 / 2:35 PM / 6 months ago

BRIEF-UPS Boosts Investments By $12 Bln On Favorable Tax Law Impact

Feb 1 (Reuters) - United Parcel Service Inc:

* UPS BOOSTS INVESTMENTS BY $12 BILLION ON FAVORABLE TAX LAW IMPACT

* UPS - ANNOUNCED MORE THAN $12 BILLION IN INVESTMENTS TO EXPAND COMPANY’S SMART LOGISTICS NETWORK

* UPS - ‍”WE WILL INCREASE NETWORK INVESTMENTS AND ACCELERATE PENSION FUNDING TO STRENGTHEN COMPANY FOR LONG TERM​”

* UPS - ALSO RECENTLY MADE A $5 BILLION TAX-QUALIFIED CONTRIBUTION TO COMPANY’S THREE UPS-SPONSORED U.S. PENSION PLANS

* UPS - WILL INVEST ADDITIONAL $7 BILLION OVER 3 YEARS FOR CONSTRUCTION, RENOVATION OF FACILITIES, AMONG OTHERS

* UPS - COMPANY PLANS TO RAISE FUTURE CAPITAL SPENDING ABOVE ITS PREVIOUSLY COMMITTED SIX-TO-SEVEN PERCENT OF ANNUAL REVENUE Source text for Eikon: Further company coverage:

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