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FedEx Express to acquire flying-cargo in Hungary

FedEx Corp. announced today that its FedEx Express unit signed an agreement to acquire its Hungarian global service participant, Flying-Cargo Hungary Kft.

The transaction, which is the latest step in the company’s Eastern Europe expansion strategy, will give FedEx Corp. a wholly-owned operation in one of the region’s dynamic markets. Flying-Cargo Hungary Kft, a privately-held company, has been the FedEx global service participant in Hungary since 2003 and has a proven track record of providing high-quality service. All of Flying-Cargo’s day-to-day operations are expected to remain unchanged for the foreseeable future, and the company will function as a wholly-owned business of FedEx Express.

FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every US address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee. (home.businesswire.com)