By Henry Sinyangwe
Sat 22 June 2013, 14:00 CAT
FEDEX Corp has completed the first stage of a strategic acquisition by signing agreements to acquire the businesses operated by its current service provider Supaswift (Pty) Ltd.
In a statement yesterday, FedEx announced that it was also in discussions to acquire Supaswift's businesses in Botswana and Namibia.
According to a statement yesterday, FedEx chairman Fredrick Smith stated that the acquisitions would operate under the FedEx Express business unit and the transaction is subject to necessary regulatory approvals and customary closing conditions.
"Once the acquisition is completed, FedEx Express will have direct access across the seven markets to 39 facilities and will welcome approximately 1,000 of Supaswift's team members, who will join the ranks of more than 300,000 FedEx team members globally," Smith stated.
He stated that FedEx Express would offer a complete suite of FedEx branded export, import and domestic solutions, connecting Southern Africa to more than 220 countries and territories worldwide, enhancing customers' business flexibility and speed to market.
"The acquisition of Supaswift's businesses, once closed, will provide customers with greater access to some of the world's most rapidly growing economies," Smith said.
"It is an important step in our international growth strategy and further strengthens our FedEx Express portfolio."
Gerald Leary, president of FedEx Express Europe, Middle East, Indian Subcontinent and Africa said FedEx Express had been active in Africa since the early 1990's, through a well-established network of Global Service Providers.
And Supaswift (Pty) Ltd chief executive officer Andrew Lovell said his company was joining one of the most admired firms and best places to work globally.
"The transaction, once closed, will put us in a solid position to meet the growing needs of our customers, representing a common commitment to offer an enhanced service portfolio and superior quality to both current and prospective customers," said Lovell.
Labels: FDI, FEDEX, NEOLIBERALISM
posted by MrK @ 3:29 PM
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