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2003 Press Releases
Fuzhou, September 19, 2003 - FedEx Express (FedEx), the world’s largest express transportation company, today announces the establishment of its Fuzhou joint venture branch with DTW Co., Ltd. It will provide unparalleled international express service to customers in Fuzhou and give great support to its fast-growing economic development.
FedEx Express China and Mid Pacific Regional Vice President Eddy Chan said: "I am very glad to see that the joint venture between FedEx Express and DTW Co., Ltd. steps onto a new stage and looking forward to the tremendous business growth of our Fuzhou branch, which will provide international standard express service for customers in Fuzhou and surrounding areas." In the meantime, the cooperation relationship between FedEx and its former agent in Fuzhou CATIC comes to an end since the new agreement takes effect.
On November 1, 1999, FedEx Express and DTW Co., Ltd. formed the joint venture in Beijing. The joint venture was a union of the two industry-leading companies, which explore China market hand in hand and offer customers with fast and reliable international express service. It has achieved significant growth in less than 4 years since the establishment. In 1999, FedEx served 144 cities in China, operated 4 weekly direct flights, and employed 270 staff. Up to date, these figures have increased to 221 cities, 11 flights and 1400 staff respectively. In September 2002, FedEx announced that it will offer a Money-Back Guarantee in China market. Representing yet another great step forward since FedEx pioneered next business day delivery service to major Asian and North American cities in 2000, the new Guarantee fully demonstrates FedEx's commitment toward long-term development and continual service improvements in the China market.
"Fuzhou is the most economically dynamic city in Fujian Province with great potential. We are confident of the future development of Fuzhou Branch by right of FedEx's unmatched service network in South China region and the outstanding achievements scored so far, " said Mr. Wilson Chung, FedEx Express China General Manager, "We will devote ourselves to the continual service improvement to better serve our customers in Fuzhou and surrounding areas; We will provide our staff with trainings and other opportunities for career development; We will perform as a good company citizen and contribute to the community development."
"The establishment of FedEx Express – DTW Co., Ltd. Fuzhou branch is another good example of the cooperation between DTW Co., Ltd. and FedEx Express in China. We will expand the international express market in Fuzhou together and contribute to both local economic development and the improvement of investment environment," said Mr. Wang Shusheng, CEO of DTW Co., Ltd., "We believe that the joint venture will become a good model of long-term cooperation between companies in China and the United States."
FedEx Express – DTW Co., Ltd. was founded in 1999 with its headquarter in Beijing. The joint venture mainly operates international express service. At present, it serves 221 cities in China and has set up branches in Shanghai, Guangzhou, and Shenzhen. The company enjoys the unparalleled air express transportation capability in China market with 11 weekly all-cargo flights to and from China.
DTW Co., Ltd. was founded in Tianjin in 1992. Its headquarter moved to Beijing in August this year. It has set up 69 branches, serving 126 main cities in China. It mainly operates as freight agent, providing air freight service, dangerous goods delivery and logistics service. In 1997, DTW Co., Ltd. ranked among top 5 air freight service providers in China.
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), connects areas that generate 90% of the world's gross domestic product in one to three business days door-to-door, customs-cleared service. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of more than 3.1 million items to 215 countries each working day. FedEx employs approximately 134,000 employees and has more than 48,000 drop-off locations, 643 aircraft and more than 43,000 vehicles in its integrated global network.
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