FedEx acquires PAFEX

New Delhi, Jan 31 (UNI) One of the world's largest express transportation company, FedEx Corporation today said its FedEx Express unit has completed the previously announced acquisition of its Indian service provider, Prakash Air Freight Pvt Ltd (PAFEX).

''Through this acquisition we will have direct control of our pick up and delivery operations, which will enhance our business flexibility and speed to market,'' FedEx Express President (international) Michael L Ducker said.

PAFEX, formerly a privately held company, is one of the largest domestic express companies operating in the country, with more than 384 offices and depots serving nearly 4,400 destinations.

FedEx provides delivery services to more than 220 countries and territories world over.

UNI