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. Last Updated: 07/27/2016

Part of UPS to Be Sold

ATLANTA -- United Parcel Service of America Inc. plans to sell about 10 percent of the company to the public in an effort to raise up to $100 million.

The Atlanta-based firm said Wednesday that it plans to complete the initial public offering by the end of the year, and to use the money to cash out existing owners.

UPS, known for its brown trucks and staff uniforms, is the world's largest express carrier and package delivery company. With 330,000 employees, UPS delivers more than 12 million packages every business day.