Fedex Corp News

President Joe Biden on Wednesday made a stop at the Port of Baltimore where he addressed ongoing supply chain issues set in motion by the COVID-19 pandemic.Baltimore's port is one of the nation's busiest, and it is set to benefit from billions of dollars that the $1 trillion infrastructure bill has set aside for ports alone. Baltimore imports and exports more autos, farm machinery and construction equipment than any other U.S. port. It employs more than 15,300 people.The infrastructure package includes $17 billion in investments to help ports…

US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately. The companies say customers will interact with each company as they always have and once the integration is complete, FedEx says they will benefit from an expanded global offering. FedEx chairman and CEO Frederick Smith said the deal combines the world’s largest air express network and an “unparalleled” European road network. “This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and shareowners,” said Smith.

Matson Inc. wins 2012 CIO 100 award from CIO magazine for exemplified operational & strategic IT performance . Ocean transportation and logistics company Matson wins the award a second time for its multi-year IT initiative, known as miLogistx, that was designed to support growth for its logistics subsidiary, Matson Logistics, Inc. Matson was one of four transportation companies honored this year, along with FedEx Corp., Amtrak and Old Dominion Freight Line. Other recipients included AT&T Services, IBM, Intel, Pfizer, Procter & Gamble, Verizon Wireless and the U.S. Department of Transportation. "Over the past decade, Matson Logistics had expanded through a combination of organic and acquisitive growth," said Peter Weis, vice president and chief information officer.

FedEx Logistics Inc reportedly will enter the oceanshipping business. FedEx Logistics, a unit of FedEx Corp., will become a non-vessel operating common carrier (NVOCC), meaning it will send freight by sea but not own any ships, Mark Gunn, of the Akron, Ohio-based logistics firm said, "We aren't going to own any ships." FedEx Logistics will arrange the global logistics of ocean freight but Gunn did not say when this will start. The Memphis-based parent firm already has a strong presence with its fleet of aircraft and now is expanding its ground operations with its trucks.