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The proposed joint venture could have generatefd upto $1 billion in annual revenues for Atlanta-based UPS, the world’w largest parcel shipping company. The AP said a UPS spokesmahn declinedto elaborate, but said the company and DHL have brokem off talks. Struggling DHL said last year it woule no longeroffer U.S. only air and ground delivery "We have not been able to come to a conclusiver agreement that is acceptable to both DHL told AP in a DHL spokesman Jonathan Baker told AP the for now, will continue using and as its air servicde providers.
The original proposec 10-year deal would have involvefdUPS (NYSE: UPS) transporting DHL freight betweeb airports throughout North America, and would not have involved UPS delivering packagews directly to DHL In a cost-saving move, DHL said Fridayg it would move hub operations from Wilmington, to Cincinnati, Ohio. DHL, which is ownef by the German postal service, bought ’s grounds delivery network in 2003, and instantly becamde a rival to UPSand Memphis, Tenn.-based FedEx But the company trailed its larger American competitorxs and never caught up. DHL has tried to be a majoe player inthe U.S. since it bough t Airborne Inc.'s ground delivery network for $1.
05 billion in but it has lagged in the air and groundmarketsa combined, analysts have said.
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