President of research firm SJ Consulting Group Inc. “As more and more parcel goes B2C, the bundling with freight and parcel is less relevant,” said The carriers have raised shipping rates and added new surcharges to offset the higher costs, but it has had little effect in slowing demand for online buying. UPS and rival FedEx have faced huge increases in shipping volume during the coronavirus pandemic, as consumers have ordered everything from their essential goods like toothpaste and toilet paper to bulky items to outfit home offices and outdoor play sets. The delivery giant said it would retain historical pension assets and liabilities, while pension benefits earned after closing will be TFI’s responsibility. It said it decided to sell the business after assessing its portfolio, enabling it to pay down long-term debt. for $1.25 billion, then its largest-ever acquisition. UPS moved into the trucking market with its acquisition in 2005 of Overnite Corp. The deal is expected to close in the second quarter. UPS on Monday said it expects to book a noncash impairment charge of roughly $500 million before taxes for 2020.
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