UPS takes wing in Asia, Europe. (United Parcel Service of America Inc.)

Plans investments, develops route networks. Says international express service growing 20% a year.

United Parcel Service, planning to invest $1.1 million in its European operation in the next five years, sees rapid growth in cross-border intra-Europe shipments.

"While we plan to grow all our services across the board, we will focus our greatest efforts on cross-border express, " said Edwin H. Reitman, president of UPS-Europe. "It's where the demand is greatest and it's where the potential for volume and revenue is highest."

Reitman said that although delivering documents and small packages is a $25-billion-a-year business in Europe, less than 10 percent of such shipments are across national borders.

UPS is placing a big bet on its European expansion. During the next five years UPS plans European investments of $300 …