UPS said it recorded good growth in the Asia Pacific region in the first quarter of 2009, mainlydriven by China and India, with more than 10% and 5% export volume growth respectively compared
with the same period last year.“Compared to the double-digit market declines, UPS has made market share gains. We areseizing opportunities to support the trend of Asian customers trading down for more affordableoptions and helping forward-looking companies revamp their supply chain,” said Derek Woodward,President, UPS Asia Pacific.
In Asia, the company has managed its business efficiently despite the negative effects of theglobal economic slump. UPS maintained its industry-leading small package margins and expanded itsmarket share both domestically and overseas while generating strong cash flow, the company said ina statement.
UPS continues to make strategic investments such as expanding its Worldport facility,building a new air hub in Shenzhen, China, and opening new healthcare distribution facilities inEurope and Puerto Rico. However, it is scaling back 2009 capital spending by an additional $200million, bringing the total to just below $2 billion.
“We will continue to make measured investments in the region where we see strategic growthopportunities, such as China, where our Shanghai International hub is already in operation. Though2009 will be difficult for the logistics industry, we are optimistic that we can ride through theyear in relatively good shape,” Woodward added.
