ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
LOUISVILLE, KY, Aug. 25, 2016 -- The bulldozers are moving earth on UPS’s (NYSE: UPS) latest expansion project, bringing the rest of the Earth even closer to UPS customers in Kentucky and parts of Southern Indiana.
The company’s estimated $300 million investment will triple the size of the package facility to 838,000 square feet, and nearly double current sorting capacity to 85,000 packages per hour. In addition, the project will create a mix of 300 new full and part-time jobs.
“We are excited to have construction underway,” said Lou Rivieccio, president of UPS’s Ohio Valley District. “This project is a win for everyone involved. It will benefit our customers, generate jobs, and enhance economic development in Louisville and the surrounding region.”
“UPS is one of the major economic engines in the city and state. We are pleased that the company is continuing to invest to ensure outstanding service for shippers large and small,” Louisville Mayor Greg Fischer said.
The Centennial hub, constructed in 2007 during UPS’s 100th anniversary year, provides pickup and delivery operations for customers in Louisville and surrounding counties and serves as a transfer point for trailers moving to destinations beyond Kentucky. With its proximity to UPS Worldport air hub at Louisville International Airport, it also supports end-of-runway express service by allowing packages to be inserted into the Worldport air operations as late as 1:30 a.m.
“Centennial offers UPS customers the advantage of being at the center of the world’s largest package delivery company,” said Rivieccio. “It is one of UPS’s most important facilities.”
The expansion will take place in three phases and continue through 2020. In addition to increasing the building’s footprint, the project will modernize the hub’s conveyor technology, enhancing the flow of packages through the building, and increasing accuracy during sorting. The automated conveyors will move packages through the sorting process while capturing data used to route packages to the proper location for loading on outbound vehicles.
When the building first opened in May of 2008, sorting capacity was 40,000 packages per hour. The expansion of enhanced technology in the facility will increase capacity to 85,000 packages per hour, improving both reliability and quality of service provided to UPS customers.
“This expansion by UPS, a premier global shipping and logistics company, will continue improving speed, service and volume for UPS customers while strengthening Kentucky’s already significant distribution and logistics industry,” Kentucky Gov. Matt Bevin said.
Six-sided decode tunnels will replace traditional scanning to capture package information from address labels. Label applicators will place “smart labels” on packages for local delivery, providing UPS loaders faster instruction of a package’s proper staging location in a UPS vehicle prior to transport. This will improve accuracy and package integrity, while minimizing time in transit for UPS customers.
“The UPS hubs in Louisville have attracted dozens of businesses to the region that rely on fast and accurate shipping,” said Gov. Bevin. “The additional capacity and hundreds of new jobs this expansion at the Centennial Ground Hub will create will help UPS play an even greater role in Kentucky’s economic development future. On behalf of my administration and the people of Kentucky, I want to thank UPS for its continued commitment to the Commonwealth.”
UPS will host a groundbreaking event Thursday, Aug. 25 at 9:30 a.m. at the Centennial construction site, 8100 Air Commerce Drive. Invited guests will include Kentucky Governor Matt Bevin, U.S. Senator Rand Paul, Louisville Mayor Greg Fischer and other dignitaries.
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com® and its corporate blog can be found at longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Michelle Polk 502-329-6488 [email protected]
