FedEx Express completes acquisition of AFL

The world’s largest package delivery company, FedEx, today said it has completed the acquisition of Mumbai-based integrated logistics services provider AFL through its subsidiary, FedEx Express.

"The acquisition of the AFL and UFL businesses has enhanced the leadership position of FedEx in the Indian express market and offers our customers access to a range of service options, including air express, domestic ground and value added-services," FedEx Express said in a statement.

In November, 2010, the company had announced acquisition of AFL and its affiliate, Unifreight India for an undisclosed sum.

"With this transaction, FedEx Express will now provide all international services for AFL and UFL customers, who will have direct access to the FedEx international air and ground network in more than 220 countries and territories worldwide," Executive Advisor to FedEx Express, India, Cyrus Guzder said.

 

Prior to the acquisition, Guzder was leading the AFL, which has been operating in the domestic freight industry for the past six decades. The company has 50 warehouses, 23 hubs and operates to more than 1,400 destinations in India.

With the completion of the acquisition, FedEx network will have a network throughout India. This would include 31 international flights in India, 12 clearance locations and coverage in 100% of the key export/import markets across India, the statement added.