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Article: Latest news and brief from Transport Intelligence; FedEx buys in India.
- Article from:
- M2 Presswire
- Article date:
- November 3, 2006
CopyrightCOPYRIGHT 2006 Normans Media Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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M2 PRESSWIRE-3 November 2006-Transport Intelligence Ltd: Latest news and brief from Transport Intelligence; FedEx buys in India(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:03112006
FedEx has signed an agreement to buy Indian airfreight company Prakash Air Freight Pvt. Ltd (PAFEX) for US$30million. PAFEX has been providing express parcel service coverage in India to FedEx since 2002. The bid is entirely cash and the PAFEX is privately owned.
Many aspects of the deal are unsurprising in that FedEx is using a partner of four years to enter a region that is perceived to have strong growth potential. However the timing is worth noting. The Indian ...