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
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT