FedEx completes acquisition of Chinese firm

FedEx has completed the purchase of Tianjin Datian W. Group Company’s 50% share of the FedEx-DTW International Priority express joint venture and DTW Group’s domestic express network in China for approximately USD400 million in cash.

“China continues to be one of the fastest growing markets in the express industry and a key to FedEx international growth and profitability,” said Michael L. Ducker, president, FedEx Express International. “FedEx is already the industry leader in China. This acquisition will allow us to solidify that position and ensure our global customers continued access to China.”

FedEx Express is one of the world’s largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.

“With more than 20 years of experience operating in the dynamic Chinese market, this acquisition represents the next step in the evolution of FedEx Express in China,” said David L. Cunningham, president, FedEx Express Asia Pacific Operations. “As a wholly foreign-owned enterprise in China, FedEx is able to provide customers with an expanded suite of transportation solutions, as well as the enhanced customer experience that our customers have come to expect.”