UPS Logistics Group, a wholly owned subsidiary of United Parcel Service which is expanding its global presence and service parts logistics network, today announced it has acquired the assets of Polysys Electronic Systems A.G., a leading Swiss logistics company.

Terms of the agreement were not disclosed.Based in Bachenbülach, Polysys is one of the country's leading service parts logistics providers in the technology, telecom and pharmaceutical markets. Its services include order and warehouse management, transport management services, after sales support and spare parts repair. The company has four facilities, including a repair and returns center, in Bachenbülach, Lausanne, Crissier and Basel.

Bill Caplan, managing director of UPS Logistics Group Europe said, "UPS Logistics Group is one of the world's leading providers of service parts logistics. Polysys shares our ideals and our commitment to excellence and quality of service, making this acquisition a perfect strategic fit for both UPS Logistics Group and Polysys."

In the last year, UPS Logistics Group has been acquiring leading Service Parts Logistics companies to expand its critical delivery network on a world-wide basis. This is the company's second acquisition in Europe; UPS Logistics Group purchased French SPL company Finon Sofecome last year.

Ernst Mathieu, previously director of Polysys, and now director of UPS Logistics Group in Switzerland said: "Many of our clients, particularly in the high-tech arena, are now operating on a global basis. In order to grow with them, we felt it was important to work with an SPL provider that shares our commitments and can provide us with access to a global infrastructure, best-in-breed technology and high levels of expertise and experience. UPS Logistics Group meets all of these requirements and I am delighted to be announcing this acquisition today."

The new UPS Logistics Group entity began operating on May 1, 2001.

UPS Logistics Group was established in Europe in 1995. The European headquarters are based in St Albans in the UK. UPS Logistics Group has four key service offerings: Supply Chain Management, Transportation Services, Service Parts Logistics and Logistics Technologies. UPS Logistics Group has 420 locations in more than 50 countries