UPS to acquire Menlo Worldwide Forwarding; Adds guaranteed heavy air freight capabilities worldwide.

0 Comments | M2 Presswire, October, 2004

M2 PRESSWIRE-6 October 2004-UPS: UPS to acquire Menlo Worldwide Forwarding; Adds guaranteed heavy air freight capabilities worldwide(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:10052004 ATLANTA - UPS (NYSE: UPS) and CNF Inc. (NYSE: CNF) today announced UPS has agreed to acquire Menlo Worldwide Forwarding, Inc., a subsidiary of CNF, for $150 million in cash and the assumption of approximately $110 million in long-term debt.

Menlo Worldwide Forwarding is a global freight forwarder that provides a full suite of heavy air freight forwarding services, ocean services and international trade management, including customs brokerage. It had $1.9 billion in gross revenues in 2003. The acquisition reinforces UPS`s strategy of providing broad supply chain solutions to...