) announced that its Freight segment has expanded its service
-FedEx Freight Priority - to offer less-than-truckload (LTL)
services to and from Canada. The company offers delivery service
to Canada through both FedEx Freight Priority and FedEx Freight
Economy throughout North America.
FedEx also aims to spread itsservices across the U.S., Canada
and Mexico and capitalize on potential business opportunities in
NAFTA (North American Free Trade agreement) markets. The company
is mounting its Priority next-day services in its FedEx Freight
segment by opening a new service centre in Rochester, N.Y. The
new service centre will cater to 13 U.S. and Canadian markets
dealing in cross-border shipments to and from Toronto and
Montreal.It expects the opening of its shipment facility in Ohio
to primarily facilitate its Canadian shipping network with
enhanced service in areas like Ontario, Ottawa and Quebec.
Further, FedEx's Vancouver facility will cater to coast-to-coast
LTL and ocean shipment for services like FedEx International
Direct Priority Ocean freight forwarding.
Further, in Mexico, the company added two new service centers
- one each in Culiacán and Silao. These centers will strengthen
its freight network in northwestern and north central part of
Mexico. On Apr 11, the company through its Trade Networks unit
announced expansion service capabilities in Latin America through
various strategic operational developments such as the opening of
new offices in Brazil and Mexico.
The company also formed strategic alliances with Portlink
Logística Multimodal Ltd., one of the largest freight forwarders
in southern Brazil to intensify its reach in the Brazilian
market. Overall, through its Trade Networks division, FedEx
remains successful in establishing relationships and extending
capabilities to 19 countries across Latin America. These
initiatives enable the company to strengthen its international
business and provide opportunities to offset lower demand trends
in its domestic market.
FedEx, which operates with freight forwarding carriers like
United Parcel Service, Inc.
Radiant Logistics, Inc.
Expeditors International of Washington Inc.
) has a Zacks Rank #3 (Hold).
EXPEDITORS INTL (EXPD): Free Stock Analysis
FEDEX CORP (FDX): Free Stock Analysis Report
RADIANT LOGIST (RLGT): Free Stock Analysis
UTD PARCEL SRVC (UPS): Free Stock Analysis
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