UPS Bids for Cold Chain Logistics Dominance with Frigo-Trans and BPL Acquisitions
UPS Bids for Cold Chain Logistics Dominance with Frigo-Trans and BPL Acquisitions
UPS has taken a significant step toward its goal of becoming a leader in global health logistics by acquiring Frigo-Trans and its sister company BPL. This move is part of the company's strategy to reach the top of the cold chain market, which is expected to reach $23.7 billion by 2030. Cold chain logistics requires the safe transport of temperature-sensitive pharmaceuticals and biological products, and UPS aims to expand its capacity in this area.
Frigo-Trans, a Germany-based company providing temperature-controlled storage and cold chain transportation services, stands out in the market. BPL, meanwhile, is a logistics firm specialized in transporting temperature-sensitive products for the biotechnology and biopharmaceutical sectors. Through these acquisitions, UPS aims to enhance its capacity to provide end-to-end warehousing and transportation solutions to customers and become the leading player in the health logistics market.
According to a Mordor Intelligence report, Turkey ranks 8th globally in the cold chain market, with an annual compound growth rate expected to reach 7.03% by 2029. This growth is increasing the demand for integrated cold chain solutions in the pharmaceutical sector. Kate Gutmann, UPS's Deputy General Manager, highlights rapid developments in the pharmaceutical industry, noting that Frigo-Trans deepens the company's solution portfolio and that this acquisition will accelerate UPS's path to becoming the world's largest health logistics provider.
Services provided by Frigo-Trans include storage and transportation across a broad temperature range from cryopreservation (-196°C) to room temperature (+15°C to +25°C). This enables comprehensive solutions for the biotechnology and pharmaceutical sectors. The acquisition process is planned to be completed in the first quarter of 2025, subject to routine reviews and approvals.
Key Points:
UPS acquired Frigo-Trans and BPL to grow in cold chain logistics.
Cold chain logistics ensures temperature-sensitive transport of pharmaceuticals and biological products.
Turkey will be a significant player in the global cold chain market with a 7.03% annual growth rate by 2029.
The acquisition is part of UPS's strategy to become a leader in health logistics.
The acquisition is scheduled to be completed in the first quarter of 2025.
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News Link: https://www.lojiport.com/ups-iki-firma-satin-aldi-saglik-lojistiginde-zirveyi-hedefliyor-117099h.htm
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