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Article: UPS to Focus Spending on Technology, Aircraft.(Originated from The Atlanta Journal and Constitution)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 11, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA--United Parcel Service, which has spent the past two decades extending its package delivery service around the globe, said it is finished with growth by acquisition and plans now to sink most of its money into technology, aircraft and other infrastructure.
That spending will total $2.5 billion next year, with at least $1 billion a year going to technology for several years.
"We are very, very satisfied with our network," UPS European chief Edwin Reitman said at a news briefing Thursday in New York. "We see nothing more that we could benefit from by acquiring another company."
But that's not to say UPS's global expansion is ...