logo
Share SHARE
FONT-SIZE Plus   Neg

FedEx To Buy Polish Courier Firm - Quick Facts

FedEx Corp. (FDX: Quote) announced an agreement to acquire the Polish courier company Opek Sp.z o.o., giving its express transportation unit access to a nationwide domestic ground network with an estimated $70 million in annual revenue and 12.5 million shipments annually.

FedEx expects the transaction to close in the summer 2012 after necessary regulatory approvals and subject to customary conditions.

The company noted that the acquisition will supplement the FedEx Express service portfolio in Poland and continue its European expansion through smart, strategic investments.

So far in fiscal 2012, FedEx Express has opened 26 new stations across France, Germany, Italy, the Netherlands, Northern Ireland and Sweden.

Opek is a family-owned company, operating 44 stations throughout Poland. More than 1,200 employees work for Opek and the company engages more than 1,300 contracted drivers.

"The acquisition delivers an excellent extension to the current service portfolios of both companies and puts us in an even better position to jointly meet the growing needs of our customers," said Gerald Leary, president, FedEx Express Europe, Middle East, Indian Subcontinent and Africa.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Burger chain Shake Shack Inc. said late Thursday that it has priced its initial public offering of 5 million Class A shares at $21 per share, which is above the previously estimated price range of $17 to $19 per share. The shares are expected to begin trading on the New York Stock Exchange on Friday, January 30 under the ticker symbol "SHAK." Google reported a higher fourth-quarter profit, driven by a 15 percent increase in revenues and one-time gains from the sale of Motorola Mobile business, somewhat offset by stock-based compensation expense and foreign exchange losses. Quarterly earnings and revenue missed Wall Street estimates, as ad revenues came under pressure. Online retailer Amazon.com, Inc. said Thursday after the markets closed that its fourth quarter fell 10.5% from last year, as higher expenses more than offset a 15% increase in sales. However, the company's quarterly earnings per share came in well above analysts' expectation, but its quarterly sales fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade FDX now with 
Follow RTT