Package carrier and supply chain solution provider UPS Inc. will expand its operations in the Philippines, taking the value of its total investment commitments in Asia Pacific to over $250 million since the start of 2023, the company said Thursday.
Specifically, Atlanta-based UPS has agreed with The Luzon International Premiere Airport Development Corporation (LIPAD) to expand its operations at Clark Airport (CRK) in the Philippines, saying move will further strengthen its portfolio of integrated express, supply chain, and healthcare logistics services. Construction of the new Clark hub is set to begin in February 2025, and it is expected to be operational in late 2026.
“Asia Pacific continues to be one of UPS’s fastest growing regions. UPS has continued to invest in our network to maximize speed and flexibility, build solutions addressing the shift of global trade lanes, and offer resilience for our customers,” said Wilfredo Ramos, president, UPS Asia Pacific.
The agreement is the latest in a series of recent network and facility enhancements the company has made across Asia Pacific including in Singapore, Japan, China, Vietnam, South Korea, Taiwan, and most recently Hong Kong, where UPS announced it will open a new state-of-the-art facility by 2028.
The increased investment comes six weeks after the company said its fourth quarter earnings for 2023 had reached just $24.9 billion, a 7.8% decrease from the fourth quarter of 2022.
