FedEx completes Indian acquisition
FedEx Express has completed the acquisition of AFL Pvt. Ltd. (AFL) and its affiliate, Unifreight India Pvt. Ltd. (UFL). The purchase “enhances FedEx Express international and India business offerings and continues a long-term commitment by FedEx to the growing Indian market”, the company said.
AFL Logistics and Distribution covers supply chain management, warehousing, and a ground distribution network.
It provides day-definite ground transportation for small packages and heavyweight shipments through more than 200 daily scheduled routes.
Furthermore, AFL WiZ Express offers domestic express transportation services through more than 150 Express Service Centers, servicing more than 5,000 zip codes across 144 cities with over 1,000 couriers in India, FedEx confirmed.
Michael L. Ducker, COO, FedEx Express, said: “The addition of the AFL and UFL businesses to the FedEx Express network will provide customers with more comprehensive international and India domestic service options, such as air express, domestic ground, and value added-services, including warehousing, logistics solutions and 3PL.
“With India being among the four biggest economies globally and predicted to be among the top three economies by 2020, it is a key market for investment.
“The growth of the Indian market is considerable and offers tremendous opportunity for all our customers wishing to explore new markets and open up additional revenue streams for their business.”
The completed acquisition will add to FedEx’s existing coverage in India, which includes: 31 international flights in India: 15 to Delhi, 11 to Mumbai and five to Bengalaru; and 12 clearance locations from Indian cities, the most for any carrier.
Cyrus Guzder, executive advisor to FedEx Express, India: “With this transaction, FedEx Express will now provide all international services for AFL and UFL customers, who will have direct access to the FedEx international air and ground network in more than 220 countries and territories worldwide, enhancing their business flexibility and speed to market.”
Last month, Post&Parcel reported that FedEx had increased its portfolio in India by launching an import service, as well as expanding its domestic express service.
The introduction of FedEx Import services in India will see the door-to-door, customs-cleared, customised and time-definite services being made available to Indian importers.
