UPS Capital has announced its acquisition of Parcel Pro, the leading independent logistics provider to the jewellery, wristwatch, and collectibles industries.
“The synergies between UPS Capital and Parcel Pro will greatly benefit customers shipping high-value products,” says Ronald Chang, president of UPS Capital. “[This] acquisition enhances our supply chain risk mitigation capabilities, providing global logistics expertise and peace of mind to customers who need to ship their valuable goods.”
Most shipping insurance is limited to $50,000 in the United States. and $500 internationally in value per package. This means that companies shipping luxury goods have to split up shipments, leading to increased transportation and labour costs. With this UPS Capital and Parcel Pro, however, shipping valuable product is insured within the United States for up to $150,000 in value per package and internationally to selected countries for up to $100,000 per package, allowing companies to ship many items in one simple, cost-effective package.
“Parcel Pro’s mission is to provide the most affordable, reliable, secure and convenient services for our industry customers to ship and insure valuable goods,” said Joseph Lam, CEO of Parcel Pro. “We believe that the acquisition by UPS Capital supports our mission and will only benefit our customers, as well as UPS Capital customers who ship high-value items.” CJ
