UPS Launches Joint Venture in Turkey

UPS debuted a new joint venture headquartered in Dubai to coordinate management and growth of UPS’ express package, freight forwarding and contract logistics services throughout the Middle East, Turkey and some portions of Central Asia.

UPS will have a majority stake in the new venture, while Unsped Paket Servisi San ve Ticaret, its existing service agent in Turkey, will have a minority stake.

“This joint venture will spearhead growth among our other service agents and operations in these countries. This part of the world has become a transportation bridge and ideal near-sourcing location for Europe, Russia and Asia,” said Dan Brutto, president of UPS International.

UPS entered the Middle East market in 1987, when it established import operations in Bahrain. In 1988, it initiated service in Turkey through Unsped. Over the past three years, Unsped’s revenue increased at a compounded annual growth rate of more than 18 percent.

Contact Alan Field at afield@joc.com.