UPS Boosts Investments by $12 Billion on Favorable Tax Law Impact
01 Février 2018 - 3:30PM
UPS today announced more than $12 billion in investments to expand
the company’s Smart Logistics Network, significantly increase
pension funding, and position the company to further enhance
shareowner value.
“This $12 billion investment program is an outgrowth of the
opportunity for tax savings created by the Tax and Jobs Act,” said
David Abney, UPS Chairman and Chief Executive Officer. “We
will increase network investments and accelerate pension funding to
strengthen the company for the long term, so that we maximize the
benefit to our global customers, employees and shareowners.”
“Through our current and future actions, we will enhance UPS’s
position as the leading logistics provider by expanding capacity
and technology investments to help customers meet their needs for
dependable, day- and time-definite service with enhanced visibility
and flexibility,” Abney said.
The company plans to raise future capital spending above its
previously committed six-to-seven percent of annual revenue.
UPS will invest an additional $7 billion over three years for the
construction and renovation of facilities, to acquire new aircraft
and ground fleet vehicles, and to enhance the information
technology platforms required to support the network, manage the
business and power new customer solutions.
“We applaud President Trump and Congress for their bold action
to improve the U.S. economy,” Abney continued. “Our
investments will create new jobs, secure existing jobs and expand
opportunities for our people. We are committed to remaining a
preferred employer by continuing to provide industry-leading
compensation and excellent career opportunities.”
UPS also recently made a $5 billion tax-qualified contribution
to the company’s three UPS-sponsored U.S. pension plans. This
represents about $13,000 per participant. The voluntary
contribution raised the funding level to above 90-percent, securing
retirement benefits on behalf of union-represented and union-free
employees eligible for UPS-funded pensions.
“Tax reform is a tremendous catalyst,” said Abney. “We
will continue to evaluate additional actions that benefit
customers, employees and shareowners as we progress further in the
year.”
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. The company can be found on the web
at ups.com or pressroom.ups.com and its
corporate blog can be found at longitudes.ups.com. To
get UPS news direct, follow @UPS_News on
Twitter.
Steve Gaut
404-828-8787
sgaut@ups.com
Scott Childress
404-828-7957
schildress@ups.com
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