After years of losses, UPS made the difficult decision to sell its trucking division, UPS Freight, in February 2017. The company cited “challenging market conditions” and “lower cargo volumes” as the main reasons for the sale.
Despite the sale, UPS Freight still exists as a separate entity and operates under the same brand. UPS has not disclosed how much it sold the division for, but it’s estimated to be in the range of $2.
5 billion.
UPS Freight’s main business is moving large and heavy cargo across the country. The company has a fleet of more than 2,000 trucks and employs more than 20,000 workers.
Despite the sale, UPS still has a strong presence in the trucking industry. The company’s other divisions, such as UPS Ground and UPS Express, continue to thrive.
The sale of UPS Freight may have been a difficult decision, but it’s one that may have been necessary in order to preserve the company’s future.
