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. . . as Fed-Ex buys TIC France

28th June 1990, Page 16
28th June 1990
Page 16
Page 16, 28th June 1990 — . . . as Fed-Ex buys TIC France
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Which of the following most accurately describes the problem?

• Federal Express has bought a privately owned French trucking and express courier company, Transports Transvendeens Chronoservice, which has an annual turnover of £17.8m and employs more than 410 people at 14 depots throughout France.

Chronoservice has a fleet of 250 trucks and vans and operates a next-day parcels service as well as an international and domestic express business.

Pierre Adida, managing director/general manager of Federal Express France, will become chief executive officer of the newly acquired cornpany, which will be known as Federal Express — Chro

noservice. There are no plans to change the day-to-day running of the firm which will be progressively integrated under the name and corporate identity of Federal Express.

Chronoservice was founded in 1929, when it used passenger buses to carry parcels. Since 1980 it has focused on its next-day trucking service. Over the past 10 years the company has expanded from its regional base in the West of France to cover Pads, Northern France, Normandy and the Rhone-Alpes region.

Federal Express began European operations in 1984, establishing a hub in Brussels. It now employs 11,000 people.

Tags

Organisations: US Federal Reserve
People: Pierre Adida
Locations: Brussels

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