| 28 Feb 2011 |
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FedEx Express Completes Acquisition of AFL Pvt. Ltd. Businesses
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FedExFedEx
Advances Long-Term International and Indian Market Growth Strategy Dubai, UAE-- February 28, 2011-- FedEx Corp.FedEx Corp.
(NYSE:FDX) announced today that its FedEx ExpressFedEx Express business unit has completed the acquisition of the logistics, distribution and express businesses of AFL Pvt. Ltd. (AFL) and its affiliate, Unifreight India Pvt. Ltd. (UFL). The acquisition further enhances FedEx ExpressFedEx Express international and India business offerings and continues a long-term commitment by FedExFedEx to the growing Indian market."FedExFedEx continues to remain committed to facilitate the growth of Indian businesses globally. Our ongoing investments in the country are driven by our customers' evolving demands, thus reinforcing the confidence of FedExFedEx in the future of the Indian market. The acquisition of the AFL and UFL businesses has enhanced the leadership position of FedExFedEx in the Indian express market and offers our customers access to a range of service options, including air express, domestic ground and value added-services such as warehousing, logistics solutions and 3PL," said Hamdi A. Osman, Sr. Vice President FedEx ExpressFedEx Express, Middle East, Indian Subcontinent and Africa.
"With this transaction, FedEx ExpressFedEx Express will now provide all international services for AFL and UFL customers, who will have direct access to the FedExFedEx international air and ground network in more than 220 countries and territories worldwide, enhancing their business flexibility and speed to market," added Cyrus Guzder, Executive Advisor to FedEx ExpressFedEx Express, India.
Specifically, this acquisition will include:
· AFL Logistics and Distribution, which consists of a wide range of products and services, including supply chain management, warehousing, and a ground distribution network that provides day-definite ground transportation for small packages and heavyweight shipments through more than 200 daily scheduled routes; and
· AFL WiZ Express, which offers domestic express transportation services through more than 150 Express Service Centers, servicing more than 5,000 zip codes across 144 cities with over 1,000 couriers in India.
The completed acquisition of the logistics, distribution and express businesses of AFL Pvt. Ltd. and its affiliate, Unifreight India Pvt. Ltd., will build upon an extensive and competitive FedExFedEx
network throughout India, which includes: · 31 international flights in India: 15 flights to Delhi, 11 to Mumbai and 5 to Bengaluru - the most flights offered today by any express service provider in India. With these flights FedEx ExpressFedEx Express has eastbound and westbound capabilities into and out of India, offering unrivalled connectivity to Asia Pacific, Europe and the Americas
· Three gateways into and out of India, located in Mumbai, Delhi and Bengaluru providing increased connectivity.
· 12 clearance locations from Indian cities, the most for any carrier.
FedExFedEx is committed to continuing to provide an excellent workplace environment. In June 2010, FedEx ExpressFedEx Express was ranked as one the Top 25 Great Places to Work in India according to the Great Places to Work® Institute India. In addition, on September 30, 2010, FedExFedEx was awarded the Best Air Cargo Carrier of the Year at the 4th Express, Logistics & Supply Chain Awards.
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About FedExFedEx Express
FedEx ExpressFedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx ExpressFedEx 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 FedExFedEx Corp.
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 $37 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedExFedEx brand. Consistently ranked among the world's most admired and trusted employers, FedExFedEx inspires its more than 285,000 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.
© Press Release 2011
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