MEMPHIS, Tenn. (AP) - FedEx Corp. said Thursday that its FedEx Express business completed its acquisition of Polish courier company Opek for an undisclosed sum.
Fedex said the acquisition gives FedEx Express access to a nationwide domestic ground network with an estimated $70 million in revenue and 12.5 million shipments each year.
The Memphis, Tenn.-based shipping company added that the growth of the Polish economy and increased interest in e-commerce there has significantly boosted demand for shipping services, making it a key market for growth.
Opek was founded as a family owned company in 1994. Its network covers all of Poland and includes an automated hub near Warsaw, along with additional hubs in Lodz and Katowice.
The company operates a total of 44 stations throughout Poland and employs more than 1,200 workers, along with more than 1,300 contract drivers.
FedEx began service to Poland in 1989 and started regular flights from Paris to Warsaw in 2004.
Fedex shares rose 32 cents to $86.37 in morning trading. They are 35 percent above their low of $64.07 last October.