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FedEx Express expands market in China
(Xinhua)
Updated: 2006-03-28 13:45
FedEx Express announced on Monday the introduction of three new flights into
China later this month.
This will provide the company with a total of 26
weekly flights to China, the most of any U.S.-based cargo carrier, said sources
with FedEx Express.
To share accommodate China's surging demand for
international cargo transport, FedEx Express has accelerated steps to expand its
business in China. On January 24, 2006, FedEx Express entered into an agreement
with Tianjin Datian W. Group Co., Ltd. ("DTW Group") to acquire DTW Group's
fifty percent share of the FedEx-DTW International Priority express joint
venture and DTW Group's domestic express network in China for approximately 400
million U.S. dollars in cash.
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