FEDEX (NYSE:FDX)
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2 Years : From May 2011 to May 2013
FedEx Corp. (NYSE: FDX) announced today that it has signed an agreement
to acquire TATEX, a leading French business-to-business express
transportation company. The acquisition represents the latest FedEx
investment in delivering sustainable growth in Europe. This transaction
is subject to necessary regulatory approvals and customary conditions.
Founded in 1976, TATEX, a privately-held company, has more than 1,000
employees and a nationwide network with a central hub at Lieusaint, just
south of Paris, and 35 shipping centers including six regional hubs. The
acquisition will give FedEx Express access to a nationwide domestic
ground network which carries 19 million shipments and produces
approximately EUR 150 million in revenue annually. This latest
development demonstrates the company’s continued focus on European
expansion through smart, strategic investments, and organic growth.
“FedEx has always recognized the importance of our Europe, Middle East,
Indian Subcontinent and Africa (EMEA) region and its many unique
marketplaces to global trade, and this acquisition shows we are
continuing to systematically and strategically invest in growing our
network and value proposition in these important areas of the world,”
said Frederick W. Smith, chairman, president and chief executive officer
of FedEx Corp. “The TATEX business complements FedEx existing operations
in the French market, and will enable the company to provide additional
local services in one of Europe’s largest geographies, to its customers
around the world.”
FedEx Express has been steadily broadening its European network and most
recently announced plans to acquire Opek Sp.z o.o., a Polish shipping
company. These acquisition plans follow the company’s purchase of ANC
Holdings Limited, a UK domestic express transportation company in 2006
and of its Hungarian service provider, Flying Cargo Hungary Kft, in
2007. Between October 2011 and the end of May 2012, FedEx will have
opened 38 new stations across Europe, including 19 in France, creating
new jobs in the process. The company has also invested heavily in its
air-fleet—providing an additional five B757s on intra-European routes,
and another B777 for long-haul routes—bringing the total number of B777s
operating FedEx routes in and out of Europe to four. In addition, FedEx
Trade Networks has greatly expanded its presence in Europe, including
three new locations in France, adding 22 locations in recent years to
complement the portfolio of express services.
“The needs of FedEx customers are at the core of our growth plans; we
have proudly integrated new services in keeping with the dynamism of the
international marketplace that offer our customers the highest caliber
of service. We are delighted our growth plans bring new employees into
the FedEx family and integrate them into our ‘people first’ work
environment,” said Gerald P. Leary, president, FedEx Express EMEA.
“France has always been a key market for FedEx and with this latest
acquisition, our position in France will be further strengthened.”
“Once the transaction closes, the combination of FedEx international
reach, and the well-established and comprehensive domestic network of
TATEX, will be a powerful and valuable combination that will deliver
immediate value for our customers, employees and the communities in
which we operate,” said Xavier Papot, president, TATEX.
FedEx entered the French market in 1985. Since then the company has been
continuously expanding its range of international shipping services in
the market and today employs over 3,000 team members in the country. In
2009, the company expanded its EMEA hub at Paris’ Roissy Charles de
Gaulle airport, making it the biggest FedEx Express hub outside the U.S.
About FedEx Express
FedEx Express is the world’s largest express transportation company,
providing fast and reliable delivery to more than 220 countries and
territories. FedEx Express uses a global air-and-ground network to speed
delivery of time-sensitive shipments, by a definite time and date with a
money-back guarantee.
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 $42 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.
About TATEX
Founded in 1976, TATEX is a leading B2B express transportation company
for heavy shipments in France. With more than 1,000 employees and a
nationwide network which includes a central Hub near Paris as well as 35
stations including 6 regional hubs, TATEX covers all of France and
carries more than 19 million parcels each year, representing an annual
turnover of about 150 million euros. The company provides a wide range
of express and time-definite services for parcels as well as for pallets
of up to 800 kg in France and internationally. TATEX is known for
providing high-performance services to the high tech, spare parts,
automotive and clothing industries. For more information, visit www.tatexpress.com.
