FedEx Express to Acquire TATEX, French Express Transportation Company
10 May 2012 - 10:00PM
Business Wire
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.
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