UPS to Buy Polish Parcel Company
Terms were not disclosed. UPS, Atlanta, expects to complete the transaction early in the second quarter of 2005, subject to customary closing conditions.
Stolica, Warsaw, offers customers a full suite of domestic delivery services through a nationwide network. The company has operated in Poland since 1993. Company sales in 2004 totaled almost $64 million.
UPS has offered service in Poland since 1992. In 2004, the year the country joined the European Union, UPS enjoyed a nearly 35 percent gain in export volume growth from Poland versus the prior year.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters