The FINANCIAL -- UPS Capital, a subsidiary of UPS, which provides supply chain financial, insurance and payment solutions, on July 16 announces that it is purchasing the Insured Parcel Services (IPS) business of G4S International Logistics (G4Si), the logistics arm of G4S, the world’s leading global integrated security company.
UPS Capital recently acquired Parcel ProTM, one of the leading logistics providers to the high-value jewelry, wristwatch and collectibles industries. With this acquisition, IPS customers will have access to enhanced service offerings through Parcel Pro’s secure logistics solutions, including higher insured value limits, expanded international coverage and superior technology, according to UPS.
“G4Si IPS and Parcel Pro are both players in the secure transportation of luxury, high-value jewelry, which is an industry segment that UPS Capital and UPS are dedicated to serving,” says Ronald Chang, president of UPS Capital. “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.”
Customers of the Insured Parcel Services unit of G4Si that is being acquired by UPS Capital will continue to receive the excellent service and protection they have come to expect. They will benefit from everything UPS Capital and Parcel Pro bring to the table, including significantly enhanced technology capabilities, such as mobile apps, API (application program integration) and risk management web tools. They also will receive coverage up to $150,000 per package in the United States and up to $100,000 in other select countries.