The current decline in the euro is acting as a catalyst to generate new business opportunities in the European region for parcel delivery companies. Both FedEx Corporation and United Parcel Service, Inc. have increased efforts to expand their business in the European region.
FedEx announced last Friday that it has requested European regulatory authorities to expedite the process of acquiring TNT Express NV – ADR. Currently FedEx requires EU approval to move on the process of acquisition. On the other hand UPS also announced that it is building a cold storage distribution network specifically for the pharmaceutical segment, which is part of its long term strategy of investing $2 billion in the European region.