MEMPHIS, Tenn. – FedEx Corp. is expanding operations in Latin America with the acquisition of Cargex S.A., an international freight forwarding company with over 25 years of experience with a focus in export management of perishable goods, and Agencias de Aduanas Aduanamos S.A. Nivel 2, an affiliate of Cargex specializing in customs brokerage services.
The acquisition is expected to close later this year and is subject to customary closing conditions, as well as a Colombian regulatory filing.
Headquartered in Bogotá, Colombia, Cargex has operations in Bogotá, Medellin, Cartagena, Buenaventura, and Santa Marta, and would operate as a subsidiary of FedEx Logistics upon closing.
“The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us,” said Udo Lange, chief operating officer and incoming president and CEO, FedEx Logistics.
“We look forward to welcoming our new team members into the FedEx family and will utilize their expertise to make this integration a success.”
“The Cargex team looks forward to joining FedEx and combining our experience with theirs to expand business opportunities in the Latin American region,” said Pablo Torres, general manager and Angela Torres, commercial manager, Cargex.
“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.”
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