FedEx acquires French transportation company

MEMPHIS, Tenn. (AP) -- Memphis-based FedEx Corp. says it has agreed to acquire TATEX, a French business-to-business express transportation company.

FedEx announced the deal on Thursday for the privately held company, which has a central hub at Lieusaint, just south of Paris, and 35 shipping centers including six regional hubs. FedEx did not disclose the cost of the acquisition.

TATEX's domestic ground network carries 19 million shipments and produces approximately (euro) 150 million in revenue annually.

Frederick W. Smith, chairman, president and CEO of FedEx Corp., said in a statement that TATEX complements existing operations in the French market and will enable the company to provide additional local services in one of Europe's largest geographies.

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