FedEx has asked the European Union's competition regulator to approve its 4.4 billion euro (US$4.9 billion) bid for Dutch rival TNT Express. The deal will provide the US package delivery service company with a ready-made and extensive European delivery infrastructure. Reuters reports that FedEx submitted its request to the European Commission on Friday. The preliminary review takes 25 working days, which can be extended by another 10 working days if concessions are offered to head off … [Read more...] about FedEx seeks EU approval for US$4.9B TNT bid
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FAA fines FedEx for hazmat violations
The US Department of Transportation’s Federal Aviation Administration (FAA) has fined FedEx Corp. US$58,600 for allegedly violating Hazardous Materials Regulations. The FAA alleges FedEx in June 2014 accepted a box containing 1.7 liters of flammable liquid for air transportation that lacked the proper shipping name of the hazardous materials, the agency alleges. The FAA further alleges that in August 2014, FedEx accepted a hazardous materials shipment consisting of two pounds of … [Read more...] about FAA fines FedEx for hazmat violations
FedEx pledges US$1M in Nepal aid
FedEx Corp. has committed approximately US$1 million in cash, transportation support and a chartered flight to deliver critical medical aid and supplies to Nepal in the wake of the recent devastating earthquake. The Memphis-based global transportation and logistics company is mobilising its disaster relief programme through its existing relationships with Direct Relief, Heart to Heart International, Water Missions International, American Red Cross and The Salvation Army. “FedEx … [Read more...] about FedEx pledges US$1M in Nepal aid
FedEx set to buy TNT for €4.4 billion
FedEx Corp's €4.4 billion bid Tuesday for TNT Express took the world's last large potential integrator acquisition target off the table, marking a victory in FedEx's battle to gain market share from rival United Parcel Service Inc. In 2013, European regulators blocked a $6.9 billion bid from Atlanta-based UPS, the world's largest package delivery company, for TNT on grounds that the combined companies would have more than 30 per cent of the European market. The transaction would … [Read more...] about FedEx set to buy TNT for €4.4 billion
3PL market to reach US$925B by 2020
The global 3PL market is forecast to reach US$925.31 billion by 2020, according to a new study by Grand View Research Inc. Increased convergence on core competencies by outsourcing secondary business activities such as logistics is expected to drive the 3PL market over the forecast period. Infeasibility in managing geographically dispersed supply chain operations as a result of increased globalisation has led to several companies outsourcing their logistics function. Emerging trends such as … [Read more...] about 3PL market to reach US$925B by 2020
FedEx seals purchase of Genco
FedEx Corp. has completed the acquisition of GENCO Distribution System, one of the largest third-party logistics providers in North America. The acquisition, as previously announced on 15 December 2014, will offer customers a more comprehensive portfolio of logistics services, complementing the 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. … [Read more...] about FedEx seals purchase of Genco
