FedEx

Con-way Freight, the less-than-truckload subsidiary of Con-way Inc., is the most recent LTL carrier to roll out a mid-year general rate increase (GRI).

When FedEx first announced this deal in April, it said it is part of its growth strategy in Europe and is expected to supplement FedEx’ service portfolio in Poland.

The time for less-than-truckload rate increases is here again, with FedEx Freight, the less-than-truckload (LTL) subsidiary of FedEx, announcing a 6.9 percent general rate increase (GRI), effective July 9.

Company officials said that the majority of these aircraft are currently parked and not in revenue service, adding that it will take a non-cash impairment charge of $134 million, which is $84 million net of tax and recorded in the fiscal fourth quarter of 2012.

Company officials said that this deal represents the latest step in its strategy for profitable growth in Latin America, as well as enhance FedEx Express’ international and Brazil business offerings.

FedEx is set to acquire TATEX, a France-based B2B express transportation company focused on heavy shipments.

While the freight economy is faring better now than it was during the depths of the recession, there are still many hurdles to cross, especially for the less-than-truckload (LTL) industry.

The new multi-million dollar facility is located on Wrangler Crescent SE in Rocky View County and handles shipments throughout Western Canada and pick-up and delivery of FedEx Freight shipments in local communities.

FedEx said this morning it is in discussions about a potential plan to acquire TATEX, a France-based B2B express transportation company focused on heavy shipments. This potential deal follows FedEx’ early April acquisition of Poland-based courier company Opek Sp.Z o.o.

Company officials said that this acquisition, which is expected to close this summer, is part of its growth strategy in Europe and is expected to supplement FedEx’ service portfolio in Poland.

Company says this network design provides choice for shippers in all lengths of haul, which is part of the company’s value-add proposition.

FedEx subsidiary FedEx Trade Networks, the company’s global trade subsidiary, said this week it has opened three new U.S.-based offices in Phoenix, St. Louis, and Milwaukee as part of an ongoing expansion effort.

CEO Fred Smith says FedEx has a profitable multi-billion dollar business in Europe and it is growing strongly.

Quarterly revenue of $10.56 billion was up 9 percent from last year’s $9.66 billion, and operating income at $813 million was up 107 percent from $393 million. Its operating margin—at 7.7 percent—was up from 4.1 percent. FedEx reported earnings per share of $1.55, edging Wall Street estimates of $1.52.

FedEx recently announced that its FedEx Express subsidiary has expanded its network coverage from Asia to Middle East markets.