logo
Share SHARE
FONT-SIZE Plus   Neg

FedEx To Buy Polish Courier Firm - Quick Facts

FedEx Corp. (FDX) 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
World's largest oil company Saudi Aramco's initial public offering is on track and the listing will be in the second half of 2018, CEO Amin Nasser said in an exclusive interview with CNBC. There have been reports that the much awaited IPO might be delayed by one year. Taco Bell, the Mexican fast food chain of Yum! Brands Inc., is reportedly testing a new dessert product called the "Kit Kat Chocoladilla" at select locations in Wisconsin. It was tested last year in the UK. Nick Caporella, the chief executive officer of National Beverage Corp., has lashed out at short sellers after his company's shares declined more than 22 percent this month from their September 11 peak. In a statement, Caporella noted that less than 15 percent of the daily volume traded on major exchanges is financially driven by company fundamentals.
comments powered by Disqus
Follow RTT