UPS has selected Dubai as the homebase for its latest joint venture, which has been launched to coordinate the growth of the company’s express package, freight forwarding and logistics services in the Middle East, Turkey and parts of Central Asia.
Although specific terms of the agreement have not been disclosed, UPS will assume a majority stake in the project and has acquired the small package operations of Unsped, its existing service agent in Turkey.
In addition, Unsped’s CEO Haluk Undeger has been assigned with leadership responsibilities and receives a minority share in the joint venture.
“This emerging area covers 21 countries where UPS is experiencing increased demand, including Saudi Arabia, Qatar, Bahrain and the United Arab Emirates,” said Dan Brutto, president of UPS International. “This part of the world has become a transportation bridge and ideal near-sourcing location for Europe, Russia and Asia."
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