UPS to build Asian healthcare logistics hubs
UPS has announced plans to open two health-care-logistics hubs in Singapore and China to tap rising regional demand for medical devices and drugs.
"The Singapore facility will handle Southeast Asia and will open in this year, while the one in China and will open early next year," said Derek Woodward, head of UPS’ Asia-Pacific region.
The company managed to boost its annual profit forecast in its second-quarter earnings statement last month, amid an increase in Asia and Europe shipments.
UPS continues to expect “very strong demand” for air and ocean freight within Asia, said Woodward, adding that it opened a $180 million logistics hub in the southern Chinese city of Shenzhen in May.