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FedEx's ship center. (Image via Property One Inc.)
FedEx to Invest in Memphis' Hub
FedEx is a courier delivery services from America. It is one of the most famous delivery services in the world, as they have branches in different countries. Back to its homeland in the U.S., FedEx Cooperation made an announcement on Friday, August 2 at Memphis International Airport. During the announcement, the giant company stated that they are planning to increase the investment in Memphis hub. They are doing this to help the hub become more modern than the current state.FedEx stated they will invest another $450 million for the town. They also revealed that they have invested $1.1 million before, but with the additional investment, they said the investment will be about $1.5 billion in total. The courier delivery service company first invested in Memphis in March 2018 with the amount of $1.1 billion. The plan was to build sorting facility, install new systems as well as truckload to support internet commerce needs. By building those, FedEx is hoping to ease the package delivery. Local government said that if everything is going as planned, the project of modernization will be completed by 2025. With 11,000 employees, FedEx said that they will add more jobs in the near future.
In other news, it is reported that Goezler Investment management Inc. is decreasing its stake in FedEx. Not only by a small amount, but they decided to decrease it as much as 55.49%. Analysts are now waiting for FedEx to report their earnings which will due on September 16 2019. They are expecting FedEx to have $3.20 earnings per share.
Source: https://www.cdispatch.com/news/article.asp?aid=75158
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