FedEx Corp has completedthe purchase of TianjinDatian W. Group’s 50 percentshare of the FedEx-DTWInternational Priority expressjoint venture and DTWGroup’s domestic expressnetwork in China.
FedEx and DTW signedthe purchase agreementmore than a year ago.
"China continues to beone of the fastest growingmarkets in the express industryand a key to FedExinternational growth andprofitability," said MichaelDucker, president of FedExExpress International.
"With more than twentyyears of experience operatingin the dynamic Chinesemarket, this acquisition representsthe next step in theevolution of FedEx Expressin China," said David Cunningham,president of FedExExpress Asia-Pacific operations.
FedEx was the first expressair carrier to enter the Chinese market (1984), and,as a wholly foreign-ownedenterprise (WOFE) in China,FedEx is able to providecustomers with an expandedsuite of transportation solutions.