UPS creates joint venture in Vietnam

UPS has formed a joint venture in Vietnam with P&T Express, which will offer express pickup and delivery service to 63 provinces, the Associated Press reported.

"With this joint stock company and the strong relationship we have with our local service partner, UPS gains greater flexibility to grow transportation and logistics capabilities in Vietnam," said Derek Woodward, president of UPS's Asia Pacific Region.

Financial terms were not disclosed.

Source: www.schednet.com