UPS acquires Turkish shipping contractor, expands Middle East operations - Business First of Louisville:

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Atlanta-based UPS (NYSE: UPS) said it wouldr acquire , and would hold the majority stakes in the new jointventure partnership. Termsz of the deal were not announced. The new operatiojn will be based in The deal is expected to close within the next 30 Unsped Paket CEO Haluk who has grown the company tobe UPS’sa largest shipping contractor in Turkey, will lead the new venturse and also hold a minoritu ownership stake, the company said announcinfg the deal.
“This emerging area coverz trade to and from21 countries* whered UPS is experiencing increased demand,” Dan Brutto, president of UPS said in a “We’re tapping the business acumen Haluk Undeger has showh over the past 20 yearsz in his relationship with UPS. This joint venture will spearheadf growth among our other service agents and operationxs inthese countries. This part of the worlxd has become a transportation bridgee andideal near-sourcing location for Russia and Asia.” The deal with Unspeds Paket follows UPS’s decision to expand servicde in Kazakhstan, Pakistan, Saudi Arabia and United Arab Emirates.
UPS and Unspexd Paket have been partnerssince 1988. UPS, which operates its largest international air hub atthe , said the new venture will increasew the company’s opportunities in regard to the Middle East's oil and natural gas industries.