UPS looking for China aquisitions

US logistics firm United Parcel Service (UPS) will open two US$180 million transport hubs in China and quadruple its staff there in the next few years, according to the president of the company's international business division, Reuters reported. Dan Brutto addded that the company is looking for acquisitions in China. UPS has doubled the number of employees in China, to around 5,300 in the last 18 months. Last month UPS posted earnings in line with expectations but hit by rising fuel costs and a weak US economy.