EUROFRUT PICKS UPS FOR FINANCE, BROKERAGE AND FREIGHT

EUROFRUT PICKS UPS FOR FINANCE, BROKERAGE AND FREIGHT    Eurofrut plc, a company in the United Kingdom that imports fruit from South Africa for British consumers, has chosen United Parcel Service for financing its business and managing supply chain operations.
   Under terms of the arrangement announced on Wednesday, UPS Capital advances Eurofrut up to 85 percent of the value of its invoices within one business day, compared to a 28-35 day delay in receiving payment common in the broker-supplier business.
   “Because we are both the importer and the distributor, we needed to have real-time access to capital,” said Ian Matthews, founder and president of Eurofrut.
   Fritz, a UPS subsidiary, manages Eurofrut’s distribution chain, handling air freight, pick-and-pack, import and export documentation, transportation to Cape Town, and clearance through British customs.
   “Our agreement with Eurofrut reflects the merging of goods, funds and information,” said Bob Bernabucci, chief executive officer of UPS Capital.