This week, FedEx Express said it is procuring the international express business of Israel-based 3PL, Flying Cargo Group (FC), after almost 30 years of cooperation between the companies.
Bert Nappier, president of FedEx Express Europe and CEO of Israel-based forwarding company TNT, said the acquisition will leverage the firms’ long-time relationship to offer customers “a seamless link” to their global networks.
The two companies will operate separately while they wait for regulatory approval to close the deal, which is expected to occur in the first half of 2019, at which time FC will continue to develop its other logistics and distribution segments. Its customers are shippers – mainly of raw materials, finished goods and e-commerce products.
FedEx Express has been investing in its global network in other aspects. In December, it filed permits to move forward with plans to update its facilities at its Memphis (MEM) and Indianapolis (IND) hubs.2 - Readers Like This Post