FedEx buys Indian express/logistics company
FedEx Express said Wednesday it has acquired the logistics, distribution and express businesses of India-based AFL Pvt. Ltd. and its affiliate, Unifreight India Pvt. Ltd.
The acquisition of privately held AFL 'will give FedEx a more robust domestic ground network and added capabilities in India,' the company said.
FedEx expects the transaction to close in its third fiscal quarter, which ends February 2011.
The acquisition includes AFL Logistics and Distribution, which handles supply chain management, warehousing, and a ground distribution network that provides day-definite ground transportation for small packages and heavyweight shipments through more than 200 daily scheduled routes. It also includes AFL WiZ Express, which offers express services through more than 160 service centers, servicing more than 5,000 ZIP codes across 144 cities in India.
'The acquisition supports our long-term strategy to grow our international business and better serve our customers seeking to expand or enter the Indian market,' said Michael Ducker, chief operating officer, FedEx Express. 'This will provide customers with more service options such as domestic ground and value-added services, including warehousing, logistics solutions and third party logistics, while allowing them to take advantage of an increased coverage area.'
Financial terms of the acquisition were not disclosed.