Fedex To Acquire TATEX, A French Express Transportation Company
By Daniel Baxter
May 14, 2012 - FedEx Express, the world’s largest express transportation company announced 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 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.
The acquisition will give FedEx Express access to a nationwide
domestic ground network which carries 19 million shipments and
produces approximately 150 million (EUR) in revenue annually.
This latest development demonstrates the company’s continued
focus on European expansion.
“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.
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