FedEx to spend $1.8B to expand unit's capacity
The FedEx Corporation will spend $1.8 billion to expand its small package carrier, FedEx Ground, by adding 10 hubs and enlarging 23 others, the company said yesterday. The project will increase the company’s capacity by the end of fiscal year 2009, to 4.8 million packages a day from 2.5 million. The first four new hubs will open in Memphis; Dallas; Cincinnati; and Hagerstown, Md., by 2006. Six others will open three years later. More than 300 existing hubs will be expanded or moved. FedEx is based in Memphis.
