UPS Capital is to acquire the Insured Parcel Services (IPS) business of G4S International Logistics (G4Si).
The acquisition comes on the heels of UPS Capital having recently purchased Parcel ProTM, a logistics provider catering to the high-value jewellery, wristwatch and collectibles industries.
Customers of IPS will have access to UPS Capital and IPS’s mobile apps, application program integration and risk management web tools. They also will receive coverage up to $150,000 (£95,000) per package in the US and up to $100,000 in other select countries.
Ronald Chang, president of UPS Capital, said: “G4Si IPS and Parcel Pro are both players in the secure transportation of luxury, high-value jewellery, which is an industry segment that UPS Capital and UPS are dedicated to serving.
“This acquisition complements and strengthens our commitment to provide high-value parcel shippers with increased supply chain risk mitigation capabilities and enhanced services across the globe, including the United Kingdom, Germany, Thailand, the United Arab Emirates and Hong Kong.”
* UPS has expanded its Worldwide Express Freight service, adding eight new origin and five new destination countries across Latin America and Europe.
Bulgaria, Romania and Serbia have now been added to its origin service, while El Salvador, Guatemala, Honduras, Nicaragua, Panama have been added to both origin and destination services.