FedEx Completes GENCO Acquisition
January 30 2015 - 2:00PM
Business Wire
FedEx Corp. (NYSE:FDX) announced today that it has completed the
acquisition of GENCO Distribution System, Inc., one of the largest
third-party logistics providers in North America. The acquisition,
as previously announced on Dec. 15, 2014, will offer customers a
more comprehensive portfolio of logistics services, complementing
the unmatched transportation services already provided by
FedEx.
“We are extremely pleased to welcome GENCO teammates to the
FedEx family,” said Frederick W. Smith, Chairman and CEO of FedEx
Corp. “We believe this acquisition demonstrates our commitment to
our customers with enhanced supply chain and logistics offerings,
which will also continue to drive growth. We look forward to
starting the integration process.”
With the completion of this acquisition, GENCO will now operate
as a subsidiary of FedEx Corp. and will continue to be led by Todd
R. Peters, Chief Executive Officer. Financials will be reported
through the FedEx Ground business segment.
About FedEx Corp.
FedEx Corp. (NYSE:FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $46 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world's most
admired and trusted employers, FedEx inspires its more than 300,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. For more information, visit
news.fedex.com.
FedEx Corp.Media Relations:Erin Truxal,
901-834-9240erin.truxal@fedex.com
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