FedEx acquires AFL
FedEx Express has revealed the acquisition of AFL Pvt, as part of a long-term Indian market strategy
Leading delivery and distribution firm FedEx has announced its Express arm has acquired AFL Pvt, A logistics and distribution firm.
The business move is part of a long-term strategy for FedEx which aims to see it become a more prominent player in the Indian market, the firm said.
Following sales negotiations, FedEx Express will now provide AFL will all its international services and the latter will also benefit from the use of the entire FedEx global network, which stretches into more than 220 countries and territories.
Michael Ducker, chief operating officer at FedEx Express, said that the move highlights the importance of the Indian market within the future world economy.
"With India being among the four biggest economies globally and predicted to be among the top three economies by 2020, it is a key market for investment," he noted.
The FedEx corporation began back in 1998, when sales negotiations led to the acquisition of Caliber Systems, a firm with a number of distribution subsidiaries.