UPS eyes Indonesian deal

UPS eyes Indonesian deal

HONG KONG (Reuters): United Parcel Service (UPS) expects to
finalize its joint venture with Indonesia's PT Cardig Citra and
the Salim group at the end of this month, UPS vice president for
Asia Pacific Charles Adams said.

"We will have 48 percent in the joint venture in Indonesia,"
Adams said.

UPS is also in the process of negotiating a joint venture with
India's Elbee Services.

"We have to work through the system in India and get
approval," Adams said.

"But we are optimistic that all of that will be approved and
we should finalize in the second quarter this year."

Negotiations for two more joint ventures in China are expected
to be completed by June, adding Shanghai and Guangzhou to an
existing joint venture in Beijing.

"We believe we will have those completed by June this year,"
Adams said. "Those will be the three regional offices and then we
will branch out of that."