» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 67 | Thursday, April 05, 2012

FedEx to Buy Polish Courier Opek

AP

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 106 418 11,538
MORTGAGES 135 521 14,424
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 220 913 24,947
BANKRUPTCIES 53 297 8,729
BUSINESS LICENSES 26 119 3,890
UTILITY CONNECTIONS 71 524 13,980
MARRIAGE LICENSES 13 83 3,114

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.