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VOL. 127 | NO. 67 | Thursday, April 05, 2012

FedEx to Buy Polish Courier Opek

AP

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MEMPHIS (AP) FedEx Corp. said Thursday that it will buy Polish courier company Opek to gain a ground delivery network with about $70 million in annual sales.

Financial terms were not disclosed.

FedEx expects the deal to close this summer, pending regulatory approval.

Memphis-based FedEx has been buying local delivery companies to expand its network in Europe. In 2006, it bought the U.K.'s ANC Holdings Ltd., and it entered Hungary the following year by buying Flying Cargo Hungary. It built a new hub for central and eastern Europe in Cologne, Germany, and expanded its European hub in Paris.

Privately held Opek was founded in 1994 and operates hubs in Lomianki, near Warsaw, as well as in Lodz and Katowice. It has 1,200 employees and more than 1,300 contracted drivers, FedEx said.

FedEx began service to Poland in 1989 and started regular flights from Paris to Warsaw in 2004.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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MORTGAGES 70 417 23,068
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