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NEW YORK - Shippers UPS Inc. and FedEx Corp. said Thursday they are making plans to implement contingency procedures in the event Tropical Storm Gustav hits the U.S.
FedEx spokesman Jim McCluskey said the Memphis-based shipper has a staff of meteorologists on site and is keeping its air- and ground-based fleets "in the loop" with information.
He noted the company is taking a "proactive approach" to judging possible contingency plans. McCluskey said that if the storm hits, the company may choose to evacuate its employees ahead of local evacuation orders.
UPS spokeswoman Susan Rosenberg said the company also has a meteorology group, based in Louisville, Ky., monitoring the situation. Contingency teams are in place to deal with the storm if it hits, she added. Facilities are currently operating normally.
As of midday, Gustav was approaching Jamaica with winds near 70 mph. The storm is expected to strengthen as it reaches warm Gulf of Mexico waters.
Shares of FedEx rose rose $2.41, or 3 percent, to $83.93, while UPS gained $1.18, or 1.9 percent, to $64.70.
Cement maker Cemex of Mexico (NYSE:CX)(MXK:CEMEXCPO) has cut production in Spain due to a housing market slowdown.
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