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."