UPS and SF Holding – the parent company of SF Express – have announced the approval of their planned joint venture (JV) by China’s Ministry of Commerce (MOFCOM).
The JV enables UPS and SF to collaborate on development and provision of international delivery services from, initially, China to the US and, in the future, to other trade lanes.
The JV approval allows the two companies to leverage their complementary networks, service portfolios, technologies and logistics expertise. The alignment provides customers with greater coverage, additional routing options, increased capacity, and more choice in transit times and service options.
UPS Asia president, Ross McCullough says: “We’re delighted to help the many customers in China who will now be in a position to trade more easily across borders and better compete on the global stage thanks to product offerings from the UPS and SF joint venture.
“UPS has an aggressive multi-year growth plan in China. Aligning our two networks will increase our market presence by connecting China’s consumers and manufacturers to the US and around the world with logistics solutions that strengthen cross-border B2B and B2C capabilities. This JV is highly symbolic of UPS’s confidence in long-term growth opportunities in China.”
SF group vice president, Alan Wong adds: “The establishment of this joint venture boosts global expansion of Chinese enterprises beyond local borders.
“SF and UPS are able to maximise the strengths of both companies to continuously innovate and create more competitive products that deliver strong value for customers.”
