Tag: FedEx

FedEx acquires UK express company ANC

Posted by | Dec 18, 2006 | |

FedEx Corporation today announced it has acquired ANC Holdings Limited, a United Kingdom domestic express transportation company for GBP120 million. This transaction will allow FedEx Express, an operating unit of FedEx Corp., to directly serve the entire UK domestic market, providing a broader range of shipping options and enhanced service under the trusted FedEx brand.

ANC offers a comprehensive range of distribution and logistics services with an established pick-up and delivery network across the UK. Founded in 1981, ANC has annual revenues of more than GBP145 million and is known for its strong customer-service philosophy, its advanced, reliable delivery network and commitment to its employees. ANC currently operates with a network of approximately 4,500 people and a fleet of 2,200 vehicles from 80 locations.

UK businesses increasingly demand bundled transportation offerings in order to take advantage of global economic trends, such as the increasing percentage of high-tech, high-value manufactured goods, the growth of global trade, faster supply chains and logistics and the growth of the internet and e-commerce.

ANC management will remain in place and report directly to Elliott. As part of the transaction, ANC shareholder LDC – the private equity division of Lloyds TSB Group plc – will exit its investment.

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Business Post expects FedEX contract changes

Posted by | Dec 18, 2006 | |

Business Post Group PLC has warned that following the acquisition of ANC Holdings by FedEx Corp, it has has been informed of FedEx’s intention to terminate its contract as ‘Global Service Participant’ in the UK.

Business Post said the nature and timing of the exit of the contract is yet to be agreed, but ‘we expect the contract to be terminated by September 2007.’

The FedEx contract currently represents 6 pct of group revenues, it added.

The company went on to say that it does not expect any impact on profits for this financial year, adding that ‘once the nature and timing of the contract exit has been agreed, we will give guidance on the profit impact for future years.’

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Deutsche Post sees DHL breaking even in U.S. in 2-3 years

Posted by | Dec 5, 2006 | |

Deutsche Post expects its DHL Express business in the United States to break even in two to three years as it takes on larger U.S. rivals UPS and FedEx.

The company wants to achieve a return on sales of 3 to 5 percent at the U.S. business in the mid to long term, DHL Express head John Mullen said at a capital markets day in New York on Tuesday.

“The United States is a long, hard road,” Mullen said. “I think we are making good progress. At the moment, our focus is clearly to break even.”

The company had previously said it did not expect DHL Express to break even in the U.S. before 2009.

Shares in Deutsche Post rose 3.6 percent to 23.35 euros following Mullen’s comments, making them the second-best performers on the German DAX index.

Deutsche Post is struggling with losses at DHL Express in the United States as it tries to boost its presence in a market dominated by FedEx and UPS. Deutsche Post has expanded into new markets, in particular through its DHL logistics and express delivery divisions, as it prepares to lose its domestic mail monopoly.

Mullen said the 3 to 5 percent return-on-sales target for DHL Express in the United States was “hardly on the radar screen,” but added: “It’s there as an aspirational goal.”

The company is aiming to achieve an eventual return on sales of 10 percent across DHL Express worldwide.

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FedEx raises ground, home delivery rates by 4.9 percent

Posted by | Dec 5, 2006 | |

FedEx Corp. (NYSE: FDX) will increase standard list rates for FedEx Ground and FedEx Home Delivery shipments by an average 4.9 percent on January 1.

Rival United Parcel Service Inc. (NYSE: UPS) will raise list rates by 4.9 percent for ground shipments and 4.9 percent for air express shipments, when factoring in a 2 percentage point reduction in fuel surcharges.

FedEx announced last month that rates for its FedEx Express shipments in the United States and for export will increase by 3.5 percent at the first of the year, when a decrease in fuel surcharges of 2 percentage points is factored in.

The company also will begin adding other transportation-related surcharges, such as those for rural or home delivery, to total costs before figuring fuel surcharges on FedEx Ground shipments.

In February, FedEx Ground will begin using a “dimensional weight system” for figuring rates on large but relatively lightweight packages, rather than relying on weight alone.

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FedEx Ground to increase 2007 rates 4.9 percent

Posted by | Dec 4, 2006 | |

FedEx Corp. today announced that it will increase the standard list rates for FedEx Ground and FedEx Home Delivery by an average of 4.9 percent. The new rates and surcharge changes will be effective Jan. 1, 2007.
The announced increase is in addition to other changes to FedEx Express, FedEx Ground and FedEx Home Delivery surcharges. These changes include an adjustment to the fuel surcharge for FedEx Ground shipments which will be assessed on additional applicable transportation-related surcharges.
FedEx Corp. previously announced an increase to the net average shipping costs for FedEx Express by 3.5 percent, which is composed of a 5.5 percent average increase in standard list rates, offset by a 2.0 percent point reduction in its fuel surcharge. These rates are also effective Jan. 1, 2007 and apply to U.S. domestic and U.S. export packages and freight.
FedEx also previously announced a new dimensional weight system for oversized, large FedEx Ground shipments. If the dimensional weight is greater than the actual weight, dimensional weight will apply to FedEx Ground shipments that are three cubic feet (5,184 cubic inches) or greater. A FedEx Ground dimensional weight customer aid is available on fedex.com to assist customers. This will be effective Feb. 5, 2007. Complete details on the FedEx Ground and FedEx Home Delivery surcharge changes will be available at www.fedex.com on Dec. 8, 2006.

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