FedEx Corp. (FDX: Quote) said it has completed the acquisition of TATEX, a French business-to-business express transportation company. Through this acquisition, FedEx would get access to a nationwide domestic ground network carrying 19 million shipments and producing nearly 150 million euros in revenues annually. In return, TATEX customers would gain direct access to the global FedEx network.
According to FedEx, the TATEX business addition to the FedEx network would deliver an excellent extension to the service portfolio of both companies and would provide customers with more comprehensive international and domestic service options.
FedEx said it has been steadily broadening its European network and today's announcement follows the recent acquisition of Opek, a Polish courier company with 1,200 employees and a network of 44 stations. In fiscal 2012, FedEx opened 38 new stations across Europe, introduced five B757 flights on intra-European routes, and another B777 for long-haul routes, thereby bringing the total number of B777s operating FedEx routes in and out of Europe to 4.
Click here to receive FREE breaking news email alerts for FedEx Corporation and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org