UPS Inc. today announced a $200 million expansion of its European air hub at Germany's Cologne/Bonn Airport, the largest investment in a non-U.S. facility in the company's 104-year history.
When completed by the end of 2013, the expanded facility will have the capacity to process up to 190,000 packages per hour, compared with 110,000 packages per hour today, UPS said. The facility will also be able to process larger freight shipments than the current system can handle.
UPS made the announcement on the 25th anniversary of its first operating day at Cologne/Bonn Airport. Atlanta-based UPS began serving Germany in 1976 with ground delivery operations, and the country remains the focal point of the company's European network.
"This investment demonstrates our long-term confidence in, and commitment to, the European economy and its businesses that continue to produce goods sought after the world over," said Jim Barber, president, UPS Europe, in a statement.
UPS said its European export volumes have grown at a 10-percent compounded annual rate for the past 10 years.