Air, Business, Express, Freight News

FedEx buys up Israeli partner

[ January 15, 2019   //   Chris ]

FedEx Express is to acquire its partner in Israel of over 30 years, Flying Cargo Group, subject to regulatory approval. The announcement coincides with the end of Flying Cargo’s service agreement with the express operator. TNT in Israel has been part of the global FedEx group of companies since its acquisition of TNT Express in May 2016.
FedEx Express began serving Israel through the International Division of Flying Cargo Express in 1990, providing import and export of shipments to more than 220 countries and territories worldwide.
Flying Cargo specialises in logistics services, warehousing, fulfillment and distribution of goods in Israel offering services including e-commerce, return goods services and domestic pick-up and delivery in Israel, which it will continue to own and manage.
The acquisition is anticipated to close in the first half of 2019.

Tags: FedEx, Flying Cargo