UPS United Parcel Service

United Parcel Service Inc. (UPS) plans to invest in its European distribution capacities, Chief Financial Officer Kurt Kuehn told Sueddeutsche Zeitung, according to an article published Wednesday.

"In the next three to five years, we want to invest $1 billion in Europe," he is quoted as saying. A large part of the sum will be spent in Germany which is "one of our strongest growth markets," Mr. Kuehn told the newspaper.

The package delivery group will present a new strategy in November and takeovers will be part of it, the German daily also reports. UPS is looking in particular for acquisitions in the healthcare area, such as in medicine transportation, the paper says.

Write to Friedrich Geiger at friedrich.geiger@wsj.com

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