UPS Denies Rumors of Emery Purchase

A spokesman for United Parcel Service (UPS) on Thursday categorically denied reports that it was on the verge of buying air cargo carrier Emery Worldwide from CNF (CNF).

"We have no intention of purchasing Emery," said Daniel McMackin, public relations manager for the Atlanta-based package carrier.

McMackin said rumors about a deal were "completely groundless" and strategically, in light of UPS's announcement that it will purchase Fritz (FRTZ), "is not an area where we want to go."

"Fritz is a freight forwarder. Emery is similar, but it is asset-based. We need expertise to move things. We don't need (assets)," McMackin said.

Cargoweb News, a European online transportation and logistics news service, first reported the rumor on Jan. 15, citing AirlineBiz.com as the source. AirlineBiz.com attributed the information to sources at Emery's pilot group.

Emery has been hit with a spate of bad news recently with the cancellation of a priority mail contract and the U.S. Postal Service's decision to outsource air transport for priority and express mail to FedEx (FDX).

CNF officials could not be reached for comment.