UPS Sets Middle East Joint Venture

UPS Inc. said Friday it has begun a new joint venture headquartered in Dubai to coordinate management and growth of packages, freight forwarding and contract logistics services across the Middle East, Turkey and parts of Central Asia.

The company will have a majority stake in the new joint venture that will acquire the small package operations of Turkish company Unsped Paket Servisi San ve Ticaret A.S., its existing service agent in Turkey.

Terms of the deal were not disclosed.

More to come...