UPS to Build Healthcare Logistics Hubs in Singapore, China

UPS Inc. plans to open two health-care-logistics hubs in Singapore and China to tap rising regional demand for medical devices and drugs, Bloomberg reported Friday.

The Singapore facility will handle Southeast Asia and will open in this year, while the one in China and will open early next year, Derek Woodward, head of UPS’ Asia-Pacific region, told Bloomberg in an interview.

The company boosted its annual profit forecast in releasing its second-quarter earnings statement last month amid jumps Asia and Europe shipments.

UPS expects “very strong demand” for air and ocean freight within Asia, Woodward told Bloomberg, adding that it opened a $180 million logistics hub in the southern Chinese city of Shenzhen in May.

Separately, the company’s board named Clark “Sandy” T. Randt Jr., one of America’s foremost authorities on China, a company director, effective immediately. His elevation expands the UPS board to 11 members.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.