Kuehne + Nagel provides global sea freight solution for Beam Suntory
Beam Suntory, a leading global premium spirits company, has chosen Kuehne + Nagel as one of its key partners to manage logistics for global imports and exports of the company’s distilled spirits from the US, Scotland, Ireland and France to countries all over the world.
In January 2014, Suntory Holdings Limited bought Beam and the deal created the world's third-largest premium spirits company. As a result, Beam Suntory has created a stronger global business with an even better premium portfolio.
With aggressive shipping lead times to meet, it is imperative for Beam Suntory to select a global logistics provider who could match the right service level and the right rate. The new contract will run for three years. The customer will leverage Kuehne + Nagel’s internet-based track & trace system, KN Login, to assist in managing its supply chain and forecast planning of shipments.
Jim Devine, Supply Chain Development Director, Beam Suntory, said: “Kuehne + Nagel has been chosen as one of the preferred logistics providers because of its worldwide network, logistics capabilities, level of service, as well as its competitive pricing. With its excellent services, Kuehne + Nagel meets our logistic needs for our import and export operations.”
Consumers from all corners of the globe call for the company's brands, including the flagship Jim Beam bourbon and Yamazaki Japanese whisky, as well as world renown premium brands including Maker's Mark and Knob Creek bourbons, Hakushu and Hibiki Japanese whiskies, Teacher's, Laphroaig, and Bowmore Scotch whiskies, Canadian Club whisky, Courvoisier cognac, Sauza tequila, Pinnacle vodka, and Midori liqueur. The company generates annual worldwide sales of approximately $4.6 billion excluding excise taxes.
John Hextall, President Kuehne + Nagel North America, adds, "We are very pleased that major players in the drinks industry, such as Beam Suntory, are continuing to place their trust in Kuehne + Nagel for drinks logistics. We look forward to continue building a long-term relationship that delivers value to Beam Suntory’s supply chain.”
For more information on Beam Suntory please visit www.beamsuntory.com and http://www.kn-portal.com/nc/about_us/media_relations/news/show/?tx_knnews_pi1[uid]=4761&cHash=30694e52404ca67c8920e75d3a9c7e10
UPS Posts Record Second Quarter with Revenues of $23.4bn
Growth across each of its core segments resulted in record results for UPS in the second quarter, with group revenues climbing 14.5% year on year to $23.4bn.
The global logistics outfit achieved consolidated operating profit of $3.3bn, up 47.3% compared to the same period in 2020. It is the second consecutive quarter of record profit, and a significant rise on Q1’s $2.9bn.
UPS Q2 Revenues in Brief
- Consolidated revenues: $23.4bn (+14.5% yoy)
- Domestic: $14.4bn (+10.2%)
- International: $4.82bn (+30%)
- Supply Chain Solutions: $4.2bn (+14.3%)
The US company’s domestic segment performed steadily with 10.2% revenue growth to $14.4bn. But it was its international and supply chain solutions segments where UPS saw the biggest gains. Strong demand in Europe led an increase in international revenues of 30% to $4.82bn. UPS’ supply chain solutions division saw revenue growth of 14.3% to $4.2bn, driven, the company said, “by strong demand in nearly all businesses”.
UPS’ steady growth throughout the pandemic has been led by the overarching vision of its chief executive Carol Tomé to do “better not bigger”, focussing on efficiency and high margin deliveries through its network over pure scale and volume.
“I want to thank all UPSers for executing our strategy and delivering high service levels, which fuelled record financial results in the second quarter,” she said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”
UPS Completes Sales of UPS Freight
The second quarter also saw UPS complete the divestiture of UPS Freight in a deal worth $800m - with a surprise result for the division, now called TForce Freight, under new owner TFI International.
“The second quarter was historically significant for TFI International, with the closing of our UPS Freight acquisition and record performance across the board,” said Alain Bédard, chairman, President and Chief Executive Officer, TFI International. “Particularly gratifying is the performance of TForce Freight, which has exceeded our operating ratio targets far ahead of schedule, and we have only just begun our work.”
In it first two months of ownership TFI reported that adjusted operating ratio (OR) was 90.1% for TForce Freight, far outperforming its forecasted OR of 96-97%.
“I wish to thank our entire team for their hard work and remarkable efforts, and officially welcome aboard our new TForce Freight colleagues who have seamlessly come under the TFI umbrella and are already making stronger than expected contributions,” Bédard added.