UPS Builds Large Freezer Farms in Preparation for COVID-19 Vaccine Shipments
Major international delivery company United Parcel Service (NYSE: UPS) is preparing for the potential rollout of a COVID-19 vaccine by readying two large freezer farms, according to a report by Bloomberg this morning. Two locations are being built, one in the state of Kentucky and the other in the Netherlands, to serve the New World and the Old World, respectively. The locations should allow overnight air shipping to nearly anywhere on the planet.
UPS enjoyed robust Q2 2020 earnings as the coronavirus pandemic drove delivery to homebound people avoiding crowded areas where they might catch the respiratory illness. According to the report, business-to-business shipments skyrocketed 65%, and domestic shipments clocked +22.8% gains, giving the shipper a strong earnings boost. UPS shares reached their highest price level since the company went public in late 1999.
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Source Fool.com
