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Shipping News
FedEx to Acquire Watkins Motor Lines, a Leader in Long-haul Freight Transportation
Acquisition to allow FedEx to provide more choices for heavyweight deliveries; Addition of long-haul LTL capability expands freight portfolio to meet customer demand
MEMPHIS, Tenn.—On May 26, 2006, FedEx announced that it has reached an agreement with Watkins Associated Industries to acquire the assets of Watkins Motor Lines, a leading long-haul less-than-truckload (LTL) freight carrier. The acquisition is expected to close within 75-90 days, at which time Watkins will formally be rebranded FedEx National LTL. The joining of the two companies promises to offer a broader LTL solution that gives greater choice and flexibility - all under the FedEx brand. Until the acquisition is complete, both Watkins and FedEx Freight will continue to operate as they do now. FedEx Freight and Watkins have complementary service offerings. FedEx Freight is a leader in regional LTL transportation. Its network is uniquely designed to serve the regional LTL sector. Watkins is a leader in long-haul LTL transportation. Its network is uniquely designed to ser the long-haul LTL sector. Together, FedEx Freight and Watkins will offer the industry's most well-rounded LTL transportation solution. After the acquisition closes, FedEx National LTL will operate as a separate network within FedEx Freight, dedicated to providing reliable, cost-effective long-haul LTL service. Since being formed in 2001, FedEx Freight has built its brand on certainty and reliability, consistently raising the bar for service and performance in the regional LTL sector. With Watkins, FedEx will extend that commitment to the long-haul LTL sector to once again raise the bar in the trucking industry. For additional information on the pending acquisition and our current product portfolio, please visit fedex.com. |
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