FedEx Corporation To Face Tough Competition From UPS Despite TNT Acquisition - Bidnessetc
FedEx Corporation (NYSE:FDX) announced last month to acquire TNT Express NV – ADR (OTCMKTS:TNTEY) for $4.80 billion to expand its operations in Europe, a region where United Parcel Service, Inc. (NYSE:UPS) already operates.
After news of the FedEx-TNT acquisition, United Parcel has increased its investment in the European region. Last month, the company announced that it intends to invest $1.06 billion in the region and will use the Quantum Fuel system, which uses CNG to operate, in its truck fleet to reduce operational costs. UPS is also to buy 1,400 new trucks, most of which will be equipped with the Quantum Fuel system, and plans to build 15 new CNG stations to facilitate the fleet.
FedEx Corporation (NYSE:FDX) announced last month to acquire TNT Express NV – ADR (OTCMKTS:TNTEY) for $4.80 billion to expand its operations in Europe, a region where United Parcel Service, Inc. (NYSE:UPS) already operates.
After news of the FedEx-TNT acquisition, United Parcel has increased its investment in the European region. Last month, the company announced that it intends to invest $1.06 billion in the region and will use the Quantum Fuel system, which uses CNG to operate, in its truck fleet to reduce operational costs. UPS is also to buy 1,400 new trucks, most of which will be equipped with the Quantum Fuel system, and plans to build 15 new CNG stations to facilitate the fleet.
