FEDEX TO ACQUIRE CERTAIN ASSETS FROM FRITZ, A UPS COMPANY

Agreement Includes Customs Clearance Operations and Employees Dedicated to FedEx MEMPHIS, TN, Jan. 31 /CNW/ – Tower Group International, Inc., a subsidiary of FedEx Trade Networks, Inc., has agreed to acquire the express customs clearance operations of Fritz Companies, Inc., in four United States locations. FedEx Trade Networks is one of five operating companies of FedEx Corp. (NYSE: FDX). Tower Group will acquire the express clearance operations currently conducted by the Fritz Companies at FedEx Express facilities in Memphis, Tenn., Oakland, Calif., and Anchorage, Alaska, and support operations located in Springfield, Mo. FedEx Trade Networks will operate these facilities through Tower Group, which will extend employment offers to all of the approximately 1,000 Fritz employees supporting these operations. “The acquisition of these operations augments FedEx Trade Networks’ customs clearance capabilities and enables us to strengthen the unparalleled service and reliability of FedEx Express,” said Ed Clark, president and chief executive officer, FedEx Trade Networks. “Our customers doing business internationally also will benefit from improved convenience as we add these operations.” FedEx expects to complete the transaction in the next thirty days. As part of the agreement, existing litigation between the companies concerning Fritz express clearance operations will be resolved. Additional terms of the transaction are not being disclosed. About FedEx Trade Networks FedEx Trade Networks is one of five operating subsidiaries of FedEx Corporation, the premier global provider of transportation, e-commerce, and supply chain management services. FTN is a provider of customs brokerage, freight forwarding, consulting, information technology, trade facilitation, and international transportation solutions. Its operating companies include Tower Group International, Inc., one of the largest customs brokers in North America and an international freight forwarder; Caribbean Transportation Services, the leading provider of airfreight forwarding services between the United States, Puerto Rico and the Dominican Republic, and WorldTariff, a publisher of customs duty and tax information. About FedEx With annual revenues of $20 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including FedEx Express, the world’s largest express transportation company; FedEx Ground, North America’s second largest provider of small-package ground delivery service; FedEx Freight, a leading provider of regional less-than-truckload freight services; FedEx Custom Critical, the world’s largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions.

Relevant Directory Listings

Listing image

SwipBox

Focus on the user experience SwipBox is focused on creating the world’s best user experience for delivering and picking up parcels using parcel lockers. Through a combination of intuitive network management software and hassle-free, app-operated parcel lockers, SwipBox delivers maximum convenience to logistics providers, retailers […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What’s the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This