angry tanker
Active member
- Joined
- Feb 28, 2004
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So how does this change everyone's bets and bids?
bizjournals.com
FedEx considers expanding hub operations into China
Wednesday July 6, 7:01 pm ET
FedEx Corp. will sign an agreement in August to establish its first transport hub in China, according to Hong Kong newspaper The Standard. The hub is planned for Guangzhou Baiyun Airport in China's southern Guangdong province.
Memphis-based FedEx (NYSE: FDX - News) released a brief statement, neither confirming or denying the story.
"FedEx is considering how best to expand hub operations in Asia and is exploring a number of ways to ensure flexibility for the future," the statement says.
The company's regional operations are in Subic Bay, a former U.S. naval base just north of the Philippine capital of Manila. Last May, FedEx Express extended its lease in the Philippines until 2010.
The agreement comes as rival United Parcel Service Inc. increases its operations in the country. In February, Business First reported that UPS opened three warehouse and distribution centers in Shanghai, Suzhou and Futian. The Atlanta-based company also plans to add another 20 facilities in major cities during the next two years and more than double its number of warehouse operations in China. UPS also plans to open an air hub in Shanghai by 2007. UPS (NYSE: UPS - News) bases its UPS Airlines division in Louisville at the Louisville International Airport.
bizjournals.com
FedEx considers expanding hub operations into China
Wednesday July 6, 7:01 pm ET
FedEx Corp. will sign an agreement in August to establish its first transport hub in China, according to Hong Kong newspaper The Standard. The hub is planned for Guangzhou Baiyun Airport in China's southern Guangdong province.
Memphis-based FedEx (NYSE: FDX - News) released a brief statement, neither confirming or denying the story.
"FedEx is considering how best to expand hub operations in Asia and is exploring a number of ways to ensure flexibility for the future," the statement says.
The company's regional operations are in Subic Bay, a former U.S. naval base just north of the Philippine capital of Manila. Last May, FedEx Express extended its lease in the Philippines until 2010.
The agreement comes as rival United Parcel Service Inc. increases its operations in the country. In February, Business First reported that UPS opened three warehouse and distribution centers in Shanghai, Suzhou and Futian. The Atlanta-based company also plans to add another 20 facilities in major cities during the next two years and more than double its number of warehouse operations in China. UPS also plans to open an air hub in Shanghai by 2007. UPS (NYSE: UPS - News) bases its UPS Airlines division in Louisville at the Louisville International Airport.
