If you heard management speak at United Parcel Service’s latest conference call, they sounded very upbeat about Europe. This might be surprising because although the region’s economy is slowly waking up after the recession, it could take some more time before the pace of growth gathers steam. In the first quarter, the eurozone grew just 0.2%. So what warrants the kind of enthusiasm that was audible in the words United Parcel’s top bosses?
United Parcel’s commitment to Europe was put into words by CFO Kurt Kuehn at the latest earnings call when he said, “Europe’s here to stay.” Although the GDP growth is taking time to pick up, better trade prospects, growing e-commerce, and increasing FDIs are making Europe a sought after destination among delivery companies. United Parcel is consolidating its strengths in the continent through acquisitions and capacity additions, and is well prepared to capitalize on these developments.
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