UPS And SF Holding To Establish Joint Venture
UPS and SF Holding, the parent company of SF Express, have announced plans to establish a joint venture. The goal is to develop and provide international delivery services initially from China to the US, with expansion plans for other destinations. The joint venture is subject to regulatory approval.
“UPS is excited to form a joint venture with SF. This joint venture will support products that provide competitive benefits to our Chinese customers who trade or seek to trade internationally,” said Ross McCullough, President of UPS Asia Pacific. “Our combined efforts will result in new logistics products and services to simplify and accelerate B2B and B2C customers’ cross-border trade.”
The joint services offerings combine the strengths of SF’s extensive Chinese network, encompassing more than 13,000 service points in the world’s largest and fastest growing package delivery market, with UPS’s market leading globally integrated network with coverage between more than 220 countries.
“China is leading the world in terms of e-commerce market size, growth, penetration and mobile business usage. Coupled with a rapidly growing and internet-savvy consumer base, it’s imperative that SF and UPS collaborate to revolutionize the logistics sector. Together, we aim to bring greater competitive advantages to our customers in China, to succeed globally,” said Alan Wong, Group Vice President of SF.