New York, August 26, 2011
Sustainability Efforts Also Spotlighted in Exhibit
UPS (NYSE: UPS) today kicked off its 105th year of service by ringing the bell to open trading on the New York Stock Exchange and honoring employees worldwide who serve the logistics needs of their customers and communities.
Seven UPS employees were selected to represent the company's 400,600 workers on the NYSE platform. The company also marked the recent publication of the latest edition of its annual Sustainability Report by exhibiting one of its alternative fuel vehicles - a hybrid-electric delivery truck - outside the Exchange on Wall Street.
UPS, founded as a Seattle messenger service on Aug. 28, 1907, by a 19-year-old named Jim Casey, was owned privately by employees, retirees and various foundations until Nov. 10, 1999. On that day, UPS issued 109.4 million Class B shares representing 10 percent of the company's outstanding shares in what was then the largest IPO in U.S. history. Over the ensuing 12 years, public ownership of UPS has grown from 10 percent of the company's stock to 75 percent and revenue has jumped from $27 billion in 1999 to $49.6 billion in 2010.
Since going public, UPS has dramatically transformed itself by developing a broad range of logistics services in addition to its package and freight delivery options. The employees who joined company leaders atop the podium today represented various examples of logistics activities at UPS. One, for example, a UPS pilot, flies around the world to support the industry's largest transportation network. Two others, drivers, demonstrate an amazing commitment to safety on the road. And highlighting UPS's commitment to the small business community was the co-owner of five The UPS Store locations in the New York area.
"For 104 years, UPS has been dedicated to serving its customers and not afraid to change and transform itself to do so," said UPS Chairman and CEO Scott Davis. "Ringing the bell to start trading is an honor, because becoming a public company was an important step in UPS's transformation to the logistics provider we are today. And it's even more special when we can recognize some of the men and women who make our company successful."
The outdoor Wall Street display featured a hybrid-electric delivery truck of a type that's been deployed in New York City for several years. The vehicle utilizes one of seven different types of alternative fuel technologies that UPS has either tested or deployed as part of its "rolling laboratory." The fleet, which now numbers 2,292 vehicles, last year topped 200 million miles driven since 2000.