FedEx strengthens its presence in Latin America with new acquisition
FedEx has strengthened its presence in Latin America’s freight forwarding and customs brokerage sectors with the acquisition of Cargex.
Bogota, Colombia-headquartered Cargex has over 25 years of experience focus on export management of perishable goods, and affiliate Agencias de Aduanas Aduanamos, which specialises in customs brokerage.
The acquisition is expected to close later this year and Cargex, which has operations in Bogota, Medellin, Cartagena, Buenaventura and Santa Maria would operate as a subsidiary of FedEx Logistics.
Udo Lange, chief operating officer and incoming president and CEO of FedEx Logistics says, “This acquisition perfectly complements the roundtrip Colombia-to-Miami flight recently announced by FedEx Express. We will connect customers throughout the Latin American market with even more possibilities by combining world-class FedEx transportation solutions with a comprehensive line of logistics service offerings.”
Pablo Torres, general manager of Cargex says, “With this acquisition, we will have access to an even larger global network, allowing us to help customers reach even more markets around the world.”