LOS ANGELES United Parcel Service has delivered a revised offer with "significant movement on wages and other economic language," the union representing roughly 340,000 U.S. drivers, package handlers and loaders at the global delivery firm said on Friday.

The International Brotherhood of Teamsters union said UPS has requested more time to negotiate and pledged to reach a deal no later than July 5. UPS was not immediately available for comment.

Earlier this week the International Brotherhood of Teamsters union demanded that UPS make its "last, best, and final offer no later than June 30."

The contract covering U.S. UPS workers expires at midnight on July 31.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Matthew Lewis)