FedEx completes takeover of French express firm TATEX
FedEx Express has now completed its acquisition of French business-to-business express firm TATEX, it confirmed today. The US integrator said taking over the company will allow it to extend its service portfolio in France and internationally for customers of both firms. TATEX customers will gain direct access to the FedEx global network.
TATEX currently handles more than 19m shipments each year, with about 700 vehicles and 1,000 employees generating annual revenues of about EUR 150m.
FedEx has been steadily building its presence in Europe through acquisitions and by opening 38 new stations in the year up to May 2012. Some 19 of those new stations were opened in France.
Last month, FedEx completed the acquisition of Polish courier company Opek.
Frederick W Smith, the FedEx chairman, president and chief executive, said his company was systematically expanding the network and service in Europe, which he said was an important market for global trade.
“France has always been a key market for FedEx and this acquisition enables us to further strengthen our position in one of Europe’s largest economies,” said Smith.
“France offers tremendous opportunities for companies wishing to explore new markets and increase their business.”
“France has always been a key market for FedEx”
FedEx entered the French market in 1985, and now employs more than 3,000 staff in the country. FedEx has its largest hub outside the US at Roissy Charles de Gaulle airport outside Paris.
Last year, as well as adding new stations in France, the company added four new B757 flights in the country.
TATEX
TATEX was founded in 1976 by the airline group TAT, and spent a period from the mid-1990s owned by French postal operator La Poste, before it gained independence in 2005 with a 70% stake acquired by investment firm Xaap Finance.
The company was very nearly bought by SNCF’s logistics subsidiary Geodis last year, but the deal was killed by French competition authorities.
Covering all of France, TATEX offers FedEx a network of 35 stations, including six regional hubs and a central sorting facility at Lieusaint, outside Paris.
The company provides only business-to-business services, including express and time definite options for parcels and pallets up to 800kg, collecting from 1,700 sites on behalf of about 23,000 customers.
The firm is known particularly for providing services for the high-tech, spare parts, automotive and clothing industries.
Alain Chaillé, the president of TATEX and now vice president of operations for FedEx Express France, said the acquisition of his company was an “important milestone” for TATEX customers.
“TATEX customers will benefit from direct access to the worldwide FedEx network and we are very pleased that the TATEX team members now become part of one of the world’s most admired companies,” he said. “With this transaction, a new era of the TATEX company history begins.”
