Global logistics leader UPS (NYSE: UPS) has taken a significant leap forward with a further investment commitment in Asia Pacific exceeding $250m since the start of 2023. This notable push includes the recent agreement with The Luzon International Premiere Airport Development Corporation (LIPAD) that is set to extend UPS's operations at Clark Airport (CRK) in the Philippines.
This vital move will empower UPS to strengthen its robust portfolio of integrated express, supply chain and healthcare logistics services. Wilfredo Ramos, president UPS Asia Pacific, acknowledges the Asia Pacific as one of UPS's fastest-growing regions, attributing the continual investment in their network to their goal of maximizing speed and flexibility.
Ramos also highlights the company's efforts to build solutions addressing the shift of global trade lanes and offer resilience for their customers. The collaboration with LIPAD is the latest in a series of network and facility enhancements that UPS has implemented across Asia Pacific, including Singapore, Japan, mainland China, Vietnam, South Korea, Taiwan, and most recently Hong Kong.
The Philippines has served as a business hub for UPS for over 25 years, connecting businesses to markets in Asia Pacific and beyond. The investments UPS continues to make through this expansion, according to Ramos, will enhance time in transit across Asia Pacific, deliver service reliability for their customers, and position UPS for long-term growth.
Since 2022, UPS has also invested heavily in its Healthcare business. This includes the introduction of UPS Premier in nine markets across the Asia Pacific region, a service that offers priority handling for time- and temperature-sensitive, patient-critical products.
In 2023, UPS added over 22,000 square meters of cold-chain enabled handling, storage and distribution space via new healthcare facilities in Singapore and Australia. An additional 12,000 square meters is being planned for 2024, demonstrating UPS's commitment to its Healthcare business.
LIPAD Chairperson Josephine Gotianun Yap believes that UPS's expansion in Clark will bring beneficial changes to Pampanga, providing job opportunities for the local community and acting as an economic stimulus in the region.
The partnership between UPS and LIPAD also represents a significant milestone in developing Clark as an ideal logistics hub for global brands looking to establish or expand their international operations. Yap looks forward to welcoming UPS to its future location in Clark and supports its expansion in the Philippines.
Construction of the new Clark hub is set to commence in February 2025, and it is anticipated to be operational by late 2026. This development marks an important step in UPS's expansion and investment in the Asia Pacific region.
With a revenue of $91.0 billion in 2023, UPS is one of the world's largest companies. UPS is committed to not only reducing its impact on the environment but also supporting the communities they serve around the world. The company takes an unwavering stance in support of diversity, equity and inclusion, and continues to uphold its purpose statement, "Moving our world forward by delivering what matters."
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