Thursday, July 5, 2012
FedEx expands global footprint with Brazilian logistics company
The FedEx Express business unit has acquired Rapidao Cometa, one of the biggest transportation and logistics companies in Brazil, FedEx Corp. announced Wednesday. Purchasing Rapidao Cometa, which reported revenues of more than $500 million last year, is a key move in FedEx's expansion in the Latin American and Caribbean (LAC) sector.
"Brazil is the sixth-largest economy in the world and its rapidly increasing middle class presents tremendous opportunity for FedEx Express," said Michael L. Ducker, CEO and president, International, of Memphis-based FedEx Express. "Our customers are our top priority and this acquisition is a testament to our commitment to expand our global footprint in the markets that most need access to the global marketplace."
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