FedEx Lightens Up: French Container Company Acquires Its Logistics Division
· Telemundo McAllen (KTLM)
The French container shipping group CMA CGM will acquire FedEx Supply Chain, FedEx's third-party logistics subsidiary, for $1.4 billion as it works to expand in the United States. CMA CGM stated that the acquisition will triple the size of its own logistics arm, CEVA Logistics, and help consolidate its presence as a contract logistics provider in North America. The company committed to investing $20 billion in its warehousing, air cargo, and logistics operations in the United States over four years by 2025. Both companies indicated they also expect to enter into multi-year agreements for air and ocean freight transportation.
AI summary · Source: Telemundo McAllen (KTLM) →
