UPS Capital, the financial services arm of UPS, has arranged a loan of nearly US$23 million forthe installation of a baggage handling system at seven airports in Mexico.
The loan, through its subsidiary UPS Capital Business Credit, will finance the acquisition ofhigh-tech equipment from two US companies by Grupo Aeroportuario del Centro Norte (OMA), whichoperates and manages 13 airports in Mexico. The loan is backed by the Export-Import Bank of theUnited States’ Transportation Security Exports Program (T-SEP), which is designed to incentivisethe use of US-made products by structuring extended terms for financing.
OMA will install the equipment at seven Mexican airports, including Monterrey, Zihuatanejo,Acapulco, Ciudad Juarez, Culiacan, Chihuahua and Mazatlan. The systems are expected to beinstalled in 2011.
“This public-private partnership between the Ex-Im Bank and UPS Capital bolsters the volume ofU.S. exports, not just to Mexico but to emerging markets around the world, and is a powerfulcatalyst for driving the sales of U.S.-made goods,” said Bob Bernabucci, president of UPSCapital. “And as a key player in global trade, growth in all exports contributes to UPS’sbusiness of serving the logistics needs of our customers.”
UPS Capital, the financial services arm of UPS, delivers financial products and services thatare designed to improve the flow of funds and minimise risks in global trade. UPS Capital’sofferings include global trade finance, trade protection services, credit cards and relatedservices, and payment-acceleration services.
