New UPS Subsidiary to Focus on Internet

United Parcel Service Inc. said it formed a subsidiary to expand its stake in business conducted over the Internet. The Atlanta-based package delivery company said the new division, UPS e-Ventures, will test and launch businesses in the areas of supply-chain management and electronic commerce. The new subsidiary’s first goal will be to develop UPS e-Logistics, a company that is expected to provide complete end-to-end business solutions for the rapid low-cost launch of e-commerce start-ups, UPS said. The new logistics project will take care of the warehousing, ordering and customer service needs of e-commerce businesses, UPS said. UPS stock fell 63 cents to close at $55.75 on the New York Stock Exchange.