Tag: FedEx Express

FedEx Express to acquire Flying-Cargo in Hungary

Posted by | Apr 6, 2007 | |

FedEx Corp. announced today that its FedEx Express unit signed an agreement to acquire its Hungarian global service participant, Flying-Cargo Hungary Kft. The transaction, which is the latest step in the company’s Eastern Europe expansion strategy, will give FedEx a wholly-owned operation in one of the region’s dynamic markets.

Flying-Cargo, a privately-held company, has been the FedEx global service participant in Hungary since 2003 and has a proven track record of providing high-quality service. All of Flying-Cargo’s day-to-day operations are expected to remain unchanged for the foreseeable future, and the company will function as a wholly-owned business of FedEx Express.

“Since the mid 1990’s, Hungary has proven to be one of the standout economies in Eastern Europe, with import and export growth rates of up to 7% projected until 2009,” said Robert W. Elliott, president of FedEx Express, Europe, Middle East, Africa and Indian subcontinent.

FedEx has expanded its network throughout Eastern Europe by introducing a series of new flights and country offerings over the past three years. Michael L. Ducker, president of FedEx Express International added that “Central and Eastern Europe, which is growing at nearly three times that of Western Europe, presents significant opportunities for our customers.”

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FedEx gets more flights to China

Posted by | Aug 31, 2006 | |

FedEx Express announced on Wednesday that it was granted permission by the U.S. Department of Transportation to start additional weekly flights to China, bringing its total to 30.

The additions, which will go into effect in March 2007, will allow FedEx Express to operate more all-cargo flights to and from China than any other U.S. airline, the company said in a released statement.

FedEx Express is the cargo airline division of FedEx Corp., operator of the world’s largest express transportation company.

FedEx Corp. earlier this year announced a $400 million agreement to boost its presence throughout Asia by taking full control of a 50-percent joint venture begun in 1999 with the Tianjin Datian W. Group.

The joint venture handles international package shipments to and from China, and FedEx’s partner, which goes by the name DTW Group, also operates a domestic delivery network with 89 locations in cities across China.

Memphis-based FedEx said it hopes to complete the acquisition during its 2007 fiscal year, which began in June. The operation will become part of FedEx Express.

Shares of FedEx rose 42 cents to close at $100.54 on the New York Stock Exchange Wednesday.

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FedEx ranked Top Express Brand in China

Posted by | Aug 24, 2006 | |

FedEx Express (FedEx), a subsidiary of FedEx Corp and the world’s largest express transportation company, is the Number One Express Delivery Brand in China. It is also one of the overall Top 10 Executive Brands in China, according to a survey conducted by a leading management magazine, Chief Executive China. In a statement here today, FedEx said the survey results showed that 44 percent of the respondents named it the most-admired brand in the express delivery services category. Among respondents who use express delivery services, 96 percent said they are current users of express delivery services and 95 percent said they would use the service in the coming 12 months, it said. Now in its second year, the survey included 19 product categories regularly used by executives in China. The results were based on a group of measurements including brand admiration, brand advantage, brand market share, brand preference, brand vitality and relevance to China’s business executives.

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FedEx and France launch new initiative to promote French trade

Posted by | Jun 26, 2006 | |

FedEx Express, a subsidiary of FedEx Corp. and the French Office of Economic and Commercial Affairs (FOECA), have joined forces to expand trade and investment between France and the United States. The skills and resources of FedEx and FOECA will be made available to small- and medium-sized French and U.S. businesses that want to import and export. Through this alliance, U.S. and French businesses will have increased opportunities to find international buyers and receive the training and assistance necessary to enter new markets.

“This initiative is a boon for small- and medium-sized businesses,” said Jean Francois Boittin, minister counselor of Economic and Commercial Affairs for France. “By tapping into the expertise of our network of experts across the country, occasional exporters will have a chance to grow in the U.S., and grow FedEx business as well.”

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FedEx expands in Middle East

Posted by | Feb 1, 2006 | |

FedEx has introduced a new service to Libya and Algeria through a network of Global Service Participants (GSPs). In Libya Fedes will work with Al Zajel Express as its GSP. Four offices have already been etablished by the GSP in the major Libyan cities to suppot cutomers across the country. In Algeria, FedEx service will be provided by GSP Falcon Express Inc, which already handles delivery services for FedEx in Jordan, Lebanon, Qatar, Syria and Yemen.

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