About FedEx

FedEx Archives: 2000 Press Releases

( BW)(OH-FEDEX-CUSTOM-CRITCL)(FDX) FedEx Custom Critical Acquires Passport Transport; Expands Into Movement of Specialty Automobiles

    Business Editors

    AKRON, Ohio--(BUSINESS WIRE)--Aug. 1, 2000--FedEx Custom Critical, Inc., North America's largest time-specific, critical-shipment carrier, has acquired St. Louis-based Passport Transport.
    Terms of the agreement were not disclosed.
    A leader in its market, Passport Transport moves antique cars, race cars and other specialty autos, as well as cars owned by collectors, sports figures and celebrities. The company transports cars throughout the contiguous U.S. in custom-designed, enclosed trailers, operated by highly skilled independent contractors. Each trailer holds up to six vehicles, enabling customers to ship several cars at one time.
    "FedEx Custom Critical has been involved in specialty transportation markets for more than a decade through our White Glove Services(R) division. The acquisition of Passport Transport enables us to apply our expertise in shipment monitoring and control to a market we have not previously served," says James F. Snider II, vice president and general manager of FedEx Custom Critical's White Glove Services division. "We will use our resources and technical knowledge to enhance what is already an outstanding service and to enable Passport Transport to grow more quickly."
    Founded in 1970, Passport Transport will continue to operate in its current location in St. Louis as a wholly-owned subsidiary of FedEx Custom Critical. Founder Robert M. Pass will serve as general manager, and Snider will oversee Passport Transport's operations.
    FedEx Custom Critical provides services throughout the U.S. and Canada and within Europe. White Glove Services is the special care in handling division of FedEx Custom Critical that combines the speed and urgency of an expedited carrier with the attention to detail associated with commercial van lines and specialty transporters. Also among FedEx Custom Critical's divisions is CharterAir(R), which offers an array of expedited air solutions to meet customers' critical delivery times.
    FedEx Custom Critical is an operating subsidiary of FedEx Corp. (NYSE:FDX). With annual revenues of $18 billion, FedEx Corp. is the premier global provider of transportation, logistics, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Logistics, an integrated logistics, technology and transportation-solution company; FedEx Custom Critical, the world's largest provider of expedited time-critical shipments; and FedEx Trade Networks, providing customs brokerage, consulting, information technology and trade facilitation solutions. More than 2.5 million customers are connected electronically through the FedEx information network and approximately two-thirds of its U.S. domestic transactions are now handled online.
    NOTE TO EDITORS: FedEx Custom Critical press releases are available on the World Wide Web at http://www.fedexcustomcritical.com.

    --30--fkb/clv*

    CONTACT: FedEx Custom Critical, Inc.
             Barbara Tschantz, 330/785-4873
             barb.tschantz@fedex.com

    KEYWORD: OHIO MISSOURI
    INDUSTRY KEYWORD: E-COMMERCE INTERNET TRANSPORTATION MERGERS/ACQ