Radio- and Bio-Pharmaceutical Solutions
Strengthen End-to-End Services for UPS Healthcare Customers
UPS (NYSE: UPS) announced today that it has entered into an
agreement to acquire MNX Global Logistics (MNX), a global
time-critical logistics provider. Once completed, the acquisition
will bring even more precision and capability to UPS customers in
healthcare and related industries who rely upon time-sensitive,
often life-impacting logistics solutions. Whether it’s to save a
life or to get a grounded airplane back in the air faster, MNX will
help UPS deliver what its customers need, when they need it, with
even greater confidence.
"UPS already brings extensive capability and industry-leading
on-time delivery to our customers, and that breadth and reliability
is why they place their trust in us,” said EVP and President of UPS
International, Healthcare and Supply Chain Solutions Kate Gutmann.
“Together with MNX, we will further that reliability and speed
globally, especially for our UPS Healthcare customers. We continue
to invest in services that bring unique value to our customers and
create additional growth opportunities for UPS.”
MNX’s capabilities in radio-pharmaceuticals and
temperature-controlled logistics will help UPS Healthcare and its
clinical trial logistics subsidiary Marken meet the growing demand
for these services in the healthcare industry. Together with UPS
Express Critical, the company will offer industry-leading global
service to customers in need of time-critical,
temperature-sensitive logistics.
"We are excited to combine our expertise with UPS to offer the
best time-critical logistics solutions to customers around the
world," said MNX CEO John Labrie. "By joining UPS, we will be able
to use the MNX team's expertise in global, time-critical logistics
within UPS's extensive network, allowing us to provide our
customers with the best possible service. We would like to thank
Quad-C Management for their support over the years. MNX is
confident that UPS is the best partner to help us accelerate our
business into the future."
The transaction is expected to close by the end of the year,
subject to customary regulatory review and approval. The value and
terms of the transaction are not being disclosed at this time. J.P.
Morgan Securities LLC is serving as the exclusive financial advisor
to UPS, and King & Spalding is serving as the legal advisor to
UPS.
For more information about UPS innovations and customer-driven
solutions, visit about.ups.com.
About UPS
UPS (NYSE: UPS) is one of the world’s largest companies, with a
2022 revenue of $100.3 billion, and provides a broad range of
integrated logistics solutions for customers in more than 200
countries and territories. Focused on its purpose statement,
“Moving our world forward by delivering what matters,” the
company’s more than 500,000 employees embrace a strategy that is
simply stated and powerfully executed: Customer First. People Led.
Innovation Driven.
UPS is committed to reducing its impact on the environment and
supporting the communities we serve around the world. UPS also
takes an unwavering stance in support of diversity, equity and
inclusion. More information can be found at www.ups.com,
about.ups.com and www.investors.ups.com.
About MNX
MNX provides time-critical transportation and logistics services
worldwide. Clients include multinational leaders in the
biopharmaceutical, life sciences, high-tech, medical device,
aviation and financial industries. These organizations rely on MNX
to safely and securely deliver high-value, time and
temperature-sensitive shipments around the world. Headquartered in
Long Beach, CA, MNX serves 190 countries and territories. Services
include Next Flight Out (NFO), Air Charter, On-Demand Courier,
Managed Transportation, Service Parts Logistics (SPL) and Specialty
Freight.
Forward-Looking
Statements
This release and our filings with the Securities and Exchange
Commission contain and, in the future, may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements other than those of current or
historical fact, and all statements accompanied by terms such as
“will,” “believe,” “project,” “expect,” “estimate,” “assume,”
“intend,” “anticipate,” “target,” “plan,” and similar terms, are
intended to be forward-looking statements. Forward-looking
statements are made subject to the safe harbor provisions of the
federal securities laws pursuant to Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of
1934.
From time to time, we also include written or oral
forward-looking statements in other publicly disclosed materials.
Forward-looking statements may relate to our intent, belief,
forecasts of, or current expectations about our strategic
direction, prospects, future results, or future events; they do not
relate strictly to historical or current facts. Management believes
that these forward-looking statements are reasonable as and when
made. However, caution should be taken not to place undue reliance
on any forward-looking statements because such statements speak
only as of the date when made and the future, by its very nature,
cannot be predicted with certainty.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations or
anticipated results. These risks and uncertainties, include, but
are not limited to, the impact of: our
inability to complete the pending acquisition on the expected
terms, or at all, for any reason, including our inability to
receive regulatory approvals; continued uncertainties
related to the COVID-19 pandemic on our business and operations,
financial performance and liquidity, our customers and suppliers,
and on the global economy; changes in general economic conditions,
in the U.S. or internationally; industry evolution and significant
competition; changes in our relationships with our significant
customers; our ability to attract and retain qualified employees;
increased or more complex physical or data security requirements,
or any data security breach; strikes, work stoppages or slowdowns
by our employees; results of negotiations and ratifications of
labor contracts; our ability to maintain our brand image and
corporate reputation; disruptions to our information technology
infrastructure; global climate change; interruptions in or impacts
on our business from natural or man-made events or disasters
including terrorist attacks, epidemics or pandemics; exposure to
changing economic, political and social developments in
international markets; our ability to realize the anticipated
benefits from acquisitions, dispositions, joint ventures or
strategic alliances; changing prices of energy, including gasoline,
diesel and jet fuel, or interruptions in supplies of these
commodities; changes in exchange rates or interest rates; our
ability to accurately forecast our future capital investment needs;
significant expenses and funding obligations relating to employee
health, retiree health and/or pension benefits; our ability to
manage insurance and claims expenses; changes in business strategy,
government regulations, or economic or market conditions that may
result in impairments of our assets; potential additional U.S. or
international tax liabilities; increasingly stringent laws and
regulations, including relating to climate change; potential claims
or litigation related to labor and employment, personal injury,
property damage, business practices, environmental liability and
other matters; and other risks discussed in our filings with the
Securities and Exchange Commission from time to time, including our
Annual Report on Form 10-K for the year ended December 31, 2021,
our Quarterly Report on Form 10-Q for the quarter ended March 31,
2022, and subsequently filed reports. You should consider the
limitations on, and risks associated with, forward-looking
statements and not unduly rely on the accuracy of predictions
contained in such forward-looking statements. We do not undertake
any obligation to update forward-looking statements to reflect
events, circumstances, changes in expectations, or the occurrence
of unanticipated events after the date of those statements.
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UPS Media Relations pr@ups.com
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