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FedEx Completes Acquisition of Indian Express Firm
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FedEx Corp. said Wednesday it completed its previously announced acquisition of Indian firm Prakash Air Freight Pvt. Ltd. Terms were not disclosed.
The company, also known as Pafex, was formerly privately held and is one of the India’s largest express companies, with more than 384 offices and depots serving about 4,400 destinations.Pafex began domestic express operations in India in 1986 and has been the FedEx service provider in India since 2002.FedEx is ranked No. 2 in the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.(Click here for previous coverage.)
