FedEx in talks to buy French express company TATEX
FedEx Corp confirmed publicly today that it is in talks to potentially acquire the French express company TATEX. TATEX specialises in business-to-business express transportation for parcels and pallets in France.
Founded in 1976 by the TAT airline group as TAT Express, the company has more than 1,000 employees and a nationwide network comprising a central hub near Paris and 35 stations including 6 regional hubs.
The company, which carries more than 19m parcels each year, collects from 1,700 sites for delivery to 23,000 customers each day, generating an annual turnover of about EUR 150m.
Services at TATEX range from express and time-definite services for parcels, but the company is know for its pallet and heavy shipment services in France and internationally for goods up to 800kg.
FedEx revealed little detail on its proposals today, but issued a three-line statement confirming: “FedEx Corp and TATEX, one of the leading French Express transportation companies, announced today that they are in discussions about a potential plan to acquire TATEX.”
The move to buy TATEX would continue the Memphis-based integrator’s step-by-step expansion in Europe alongside its acquisition of Polish courier company Opek, while its major rival UPS makes a big leap in the same direction with the purchase of TNT Express.
In particular, FedEx interested in the services TATEX provides to the high tech, spare parts, automotive and clothing industries.
Since its creation in 1976, TAT Express has spent just over a decade under the ownership of national postal service La Poste from the mid-1990s until 2005, when a 70% stake was taken by French investment company Xaap Finance.
Last year almost saw Geodis, the logistics subsidiary of French national railway operator SNCF, almost buying TATEX, but the acquisition was abandoned in July as “serious doubts” were expressed over the deal by French antitrust authorities.