FedEx Freight, a leading U.S. provider of regional next-day and second-day less-than-truckload (LTL) service, and a subsidiary of FedEx Corp. (NYSE: FDX), will implement a 5.48 percent general rate increase (GRI) effective January 14, 2008. Additionally, FedEx National LTL, the long-haul LTL company, will implement a commensurate increase for its general rates.
Rates for other operating companies within FedEx Corp., specifically FedEx Express and FedEx Ground, are not affected.
FedEx Freight and FedEx National LTL are committed to providing superior service for regional and long-haul shippers throughout North America, said Dennie Carey, senior vice president, marketing, FedEx Freight. Sustained investments in our employees, technology, equipment and facilities will enable us to continue offering what customers expect from FedEx " safe and reliable transportation of their shipments by dedicated professionals.
In 2007, FedEx Freight improved service standards inkey marketsthroughout the U.S., and reduced transit times in more than 1,000 transportation network lanes. Additionally, FedEx National LTL re-engineered its network to provide long-haul shippers with higher levels of reliability and certainty. FedEx National LTL was created in September 2006 when FedEx acquired the business assets of the former Watkins Motor Lines.
Carey also noted that FedEx Freight and FedEx National LTL have taken a leadership role in the purchase of safe and more environmentally sensitive equipment. Its our goal to take necessary steps to benefit our employees, customers and the communities in which we live and work.
The GRI increase will apply to interstate and intrastate traffic, and certain shipments between the United States and Mexico and Canada. Various additional adjustments will include minimum and accessorial charges, as well as adjustments in fuel surcharges and select lanes and service areas.
After January 14, the new base rate and rules tariffs for FedEx Freight will be available on the companys Web site, www.fedex.com/us/freight/main/ and new base rates and rules tariffs for FedEx National LTL will be available at http://fedex.com/us/national/main/. Customers may access rate quotes via these sites.
About FedEx Freight
Within FedEx Corp., the FedEx Freight Segment had annual revenues of $4.6 billion in fiscal year 2007. The Segment includes FedEx Freight, a leading U.S. provider of regional next-day and second-day and extended LTL freight services. FedEx Freight is known for exceptional service, reliability and on-time performance. Through a comprehensive network of nearly 330 service centers and advanced information systems, FedEx Freight provides service to virtually all U.S. ZIP codes, including Alaska and Hawaii.
The carrier's regional and extended LTL service is supported by a no-fee money-back guarantee on all eligible continental U.S. shipments. Internationally, the company serves Canada, Mexico, Puerto Rico, Central and South America, the Caribbean, Europe and Asia. With corporate offices in Memphis, Tenn., the FedEx Freight Segment also includes FedEx National LTL, a leading U.S. provider of long-haul LTL services; FedEx Freight Canada, an LTL operating company serving most points in Canada; FedEx Custom Critical, North America's largest time-specific, critical shipment carrier; and Caribbean Transportation Services, the leading provider of airfreight forwarding services between the United States and Puerto Rico. For more information, visit the FedEx web site, fedex.com.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $36 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 290,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
