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UPS Increases Investments By $12 Bln On Favorable Tax Law Impact

United Parcel Service, Inc. (UPS) announced more than $12 billion in investments to expand the company's Smart Logistics Network, significantly increase pension funding, and position the company to further enhance shareowner value.

The company plans to raise future capital spending above its previously committed six-to-seven percent of annual revenue. UPS will invest an additional $7 billion over three years for the construction and renovation of facilities, to acquire new aircraft and ground fleet vehicles, and to enhance the information technology platforms required to support the network, manage the business and power new customer solutions.

Separately, UPS announced it has ordered 14 Boeing 747-8 cargo jets and four new Boeing 767 aircraft to provide additional capacity in response to accelerating demand for the company's air services. All of the new aircraft will be added to the existing fleet and no existing aircraft are being replaced.

The aircraft will be delivered on an expedited schedule, building on the company's 2016 order of 14 Boeing 747-8 freighters. All 32 of the jets will be delivered by the end of 2022, adding more than 9 million pounds of cargo capacity. UPS's global airline network includes more than 500 owned and leased aircraft. UPS received three new 747-8 freighters in 2017.

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