FedEx announces investment in Memphis hub
FedEx Express has announced that it will be investing in a new development project at its hub in Memphis.
The project includes construction of a large new sort facility, installation of state-of-the-art sort systems in the new building, construction of a bulk truckload building and a new area to improve handling of the oversized shipments that have increased with the growth in e-commerce.
In a statement issued yesterday (14 March), FedEx Chairman and CEO Frederick W. Smith, said: “Modernization and expansion of the Memphis hub will ensure that we continue to provide outstanding service to our customers around the world and make this an even better place to work for the thousands of team members here who keep our operations running every day and night.”
Capital investment for the Memphis hub project is estimated to exceed $1 billion over a six-year period. Following finalization of the project plans, construction could begin in 2019 and should be completed by 2025.