FedEx completes Tatex acquisition

   FedEx Corp. said Tuesday it has completed the acquisition of Tatex, a French business-to-business express transportation company.
   The company said the purchase “represents the latest step in the company’s strategy to sustainably grow in Europe.”
   It said the acquisition will give FedEx access to a nationwide domestic ground network which carries 19 million shipments and produces about 150 million euros ($189 million) in revenues annually.
   “FedEx has always recognized the importance of Europe and its many unique marketplaces to global trade, and our most recent investments in France demonstrate that we are systematically expanding our network and value proposition in this market,” said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp., in a statement “France has always been a key market for FedEx and this acquisition enables us to further strengthen our position in one of Europe’s largest economies.” – Chris Dupin