FedEx Reducing Costs to Increase Its Profits

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FedEx Improves Vehicle Fuel Efficiency 16.6%

FedEx Corp. has increased its vehicle fuel efficiency by 16.6% from 2005 levels, due in part to the use of all-electric vehicles and hybrid fuel vehicles, the company said Monday.

In 2012 FedEx increased the size of its alternative vehicle fleet by 18%, the company reported in its annual global citizenship report, saving 345,000 gallons of fuel. 

FedEx now has 364 hybrid-electric vehicles and 118 electric vehicles in service.

The company also announced that by 2020 it would reduce its aircraft emissions by 30%, increasing its current goal by 50%.

FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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FedEx Completes Brazilian Logistics Acquisition

FedEx Corp. said it completed its acquisition of Brazilian logistics firm Rapidão Cometa Logística e Transportes S.A.

Terms were not released about the deal, first announced by FedEx in May. Rapidão Cometa generates about $500 million per year in revenue. 

FedEx said the acquisition will extend its reach in Latin America and gives its FedEx Express unit access to a ground network of 45 branches, 770 vehicles and trailers.

FedEx earlier this year bought package delivery companies in France in Poland.

FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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UPS, FedEx Gear Up for Holidays

UPS Inc. said it expects to hire 55,000 temporary workers and FedEx Corp. 20,000 workers for the holiday season.

UPS said it expects to deliver more than 120 million packages around the world in the week before Christmas, up more than 6% from a year ago.

FedEx also expects to move more than 17 million shipments, almost double its daily average volume. It said Dec. 12 likely will be the busiest day in its history.

Between Thanksgiving and Christmas, FedEx forecasts to move more than 260 million shipments, a 12% increase over 2010.

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