UPS looks globally for growth | The Daily Star
12:00 AM, March 13, 2008 / LAST MODIFIED: 12:00 AM, March 13, 2008

UPS looks globally for growth

Economic uncertainty in the United States means UPS Inc. will have to focus more on growth opportunities overseas, the chief executive of the world's largest shipping carrier said Wednesday.
CEO Scott Davis said at an investor conference in New York that was broadcast on the Internet that the Atlanta-based company still considers its domestic market to be important to its future.
But he noted that U.S. "economic forecasts for this year are uncertain at best." Davis said the company can't rely on U.S. package volume growth alone. International growth will become more important in the future, he said.
"One of our real strengths is our balanced global presence," Davis said.
China, India and Europe provide good growth opportunities for UPS, said David Abney, the company's chief operating officer.
Davis said UPS also will continue to use technology to improve efficiency and financial results. He said growing Internet commerce offers more opportunities for UPS.
"I am confident we can deliver long-term results," Davis said.
Last month, UPS said a bookkeeping error caused it to inflate its reported earnings for the fiscal 2007 fourth-quarter and full-year by $65 million.

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