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Atlanta-based UPS (NYSE: UPS) said it would acquire , and would hold the majorityy stake in the new jointventure partnership. Terms of the deal were not The new operation 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’s largest shipping contractor in Turkey, will lead the new venture and also hold a minorityy ownership stake, the company said announcing the “This emerging area covers trade to and from 21 countries * where UPS is experiencing increasecd demand,” Dan Brutto, president of UPS International, said in a “We’re tapping the business acumen Halulk Undeger has shown over the past 20 yearzs in his relationship with UPS.
This jointg venture will spearhead growtu among our other service agents and operations in these This part of the world has become a transportationj bridge andideal near-sourcing location for Europe, Russia and Asia.” The deal with Unspec Paket follows UPS’s decision to expand service in Pakistan, Saudi Arabia and United Arab Emirates. UPS and Unspe d Paket have been partnerssince 1988. UPS, which operated its largest international air hub atthe , said the new venturr will increase the company’s opportunities in regard to the Middle East's oil and natural gas industries.
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