Tag: FedEx

FedEx contract update

Posted by | Feb 6, 2007 | |

Business Post Group plc announces that, further to its statement on 18 December 2006 regarding FedEx Corporation’s intention to terminate the Group’s contract as its Global Service Participant in the UK, the terms of that termination have been satisfactorily agreed. The contract will now terminate on 30 April 2007 with the people and dedicated assets related to the contract and associated costs being transferred to FedEx. This early termination avoids the potential for an increasingly unprofitable run-down of the contract over the full term of the original notice period.
In the year to 31 March 2007 the FedEx contract will generate revenue of approximately GBP19m, and a profit contribution of some GBP2m. Business Post will incur an exceptional cost in the current financial year of some GBP1m relating to contract exit costs.
Guy Buswell, Chief Executive of Business Post, said:
“We are pleased to have reached an agreement with FedEx. We wanted this early termination to allow us to focus our resources immediately on the development of the new, longer term opportunities now open to the group,”

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FedEx Express EMEA announces new senior management positions

Posted by | Feb 5, 2007 | |

FedEx Express announced the promotions of Hamdi Osman to Senior Vice President of the Middle East, Indian subcontinent and Africa, and Jacques Creeten to Vice President of India. Both promotions fill newly created positions and are effective immediately.

Hamdi Osman began his employment at the frontlines of the company in 1978 as a truck washer. His long tenure and career advancement demonstrates FedEx commitment to its people, encouraging promotion from within the organization. Prior promotions and positions include courier (1979); Manager Operations, Edison, New Jersey (1982); Senior Manager Operations (1985); Managing Director for the Northeast District, US (1990). In September 1991 Hamdi moved to the Middle East, taking on the role of Managing Director for the Middle East and Indian subcontinent region. In 1997, Hamdi was appointed to the position of Vice President, Operations, Middle East, Indian subcontinent and Africa.

Jacques Creeten joined FedEx in 1985 and has held various positions in Belgium, Italy, Turkey, and Dubai before moving to India in 1999 as Managing Director Operations for the Indian subcontinent. In 2005 Jacques became the Managing Director, Sales & Marketing with responsibility for all FedEx sales and marketing activities across the Middle East, Indian Subcontinent and Africa region.

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FedEx freight launches long-haul LTL service

Posted by | Feb 5, 2007 | |

FedEx Corp. announced the official launch of its new long-haul less-than-truckload (LTL) service, FedEx National LTL. Additionally, the company formally launched direct LTL service in Canada through the newly-formed FedEx Freight Canada. The addition of these services, combined with the industry-leading regional service provided by FedEx Freight, offers a more comprehensive solution for LTL customers and expands the FedEx portfolio.
FedEx National LTL and FedEx Freight Canada were created through the acquisition of the business assets of the former Watkins Motor Lines and Watkins Canada Express, which was finalized on Sept. 3, 2006. The new services respond to customer demand for greater flexibility in the LTL sector.
“In five months, we have made tremendous progress in our strategy of providing a reliable and cost-effective service for long-haul shippers,” said Douglas G. Duncan, president and CEO of FedEx Freight. “The cultural fit between the former Watkins Motor Lines and FedEx, with a shared focus on employee engagement and customer service, has made it possible for us to achieve a great deal in a short period of time. We have hired close to 9,000 employees, re-branded equipment and integrated Web sites to allow customers to quickly and seamlessly navigate between our regional and long-haul services.”
FedEx National LTL has also re-engineered its operations to focus on the long-haul market with a strictly scheduled network, similar to FedEx Freight’s operations in the regional market. These changes enhance FedEx National LTL’s already strong on-time performance, a key requirement of shippers in all sectors.

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Cargus banks on 45% rise in turnover

Posted by | Feb 1, 2007 | |

Cargus, the domestic and international courier company derived gross profit worth 2.1 million euros last year, down from the previous year’s figures, according to the company’s preliminary results.

“Compared with 2005, when we posted profit worth approximately 2.5 million euros and turnover amounting to 15.3 million euros, we witnessed a slight decline in 2006, due to the fact that we spent more on investments,” said Augustin Plesea, general manager of the company.

Last year Cargus invested 2.5 million euros in a car fleet, software programmes and promotional activities.

The company estimates turnover will rise this year to 29 million euros, a 45% increase from last year.

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FedEx Express announces acquisition of Indian express company PAFEX

Posted by | Jan 31, 2007 | |

FedEx Corporation announced today that its FedEx Express unit had completed the previously announced acquisition of its Indian service provider, Prakash Air Freight Pvt. Ltd. (PAFEX).

PAFEX, formerly a privately held company, is one of the largest domestic express companies operating in India, with more than 384 offices and depots serving nearly 4,400 destinations. The nationwide network covers every city in India. PAFEX began domestic express operations in India in 1986 and has been the FedEx service provider in India since 2002.

According to the goal set by the Indian Minister for Finance in the most recent budget, Indian exports will reach USD150 billion by 2008-2009. The acquisition of PAFEX allows FedEx Express to invest more effectively and directly in the long-term growth and prosperity of India’s economy.

The acquisition consolidates the resources of the two companies and ensures customers continue to receive the same reliable, seamless service they have come to expect from FedEx.

“As a fast-growing, market-driven economy that recorded 8.4 percent growth between 2005 and 2006(a), FedEx believes India is poised to take a leading role on the world’s stage as an economic superpower, and we want to be partners in making it happen,” said Jacques Creeten, FedEx Express vice president – India.

PAFEX day-to-day services will remain unchanged for the foreseeable future.

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