Release Date: 01 June 2006
Release ID: 348
FedEx Freight, the less-than-truckload (LTL) subsidiary of FedEx Corp. (NYSE:FDX), will implement a 5.95 percent general rate increase effective April 24, 2006. This general rate increase applies only to FedEx Freight. Rates for other operating companies within FedEx Corp., specifically FedEx Express and FedEx Ground, are not affected.
FedEx Freight is a leading U.S. provider of regional and inter-regional LTL freight services.
“FedEx Freight has raised the bar in the less-than-truckload industry with innovations like our no-fee money-back guarantee and FedEx Freight Advance NoticeSM service feature,” said Dennie Carey, senior vice president, marketing, FedEx Freight. “Our ability to help companies take inventory out of the supply chain has enormous value to our customers employing fast-cycle logistics, and requires continuous investment in safe, fuel-efficient equipment, our network of more than 330 service centers and an educated and engaged workforce.”
The increase will apply to interstate and intrastate traffic, and selected shipments between the United States and Mexico and Canada.. Various additional adjustments will include minimum and accessorial charges as well as additional adjustments in select lanes and service areas.
Other factors contributing to the general rate increase include increasing highway tolls and access fees and more expensive environmentally responsible equipment. After April 24, the new FedEx Freight base rate and rules tariffs will also be available on the company’s Web site, www.fedex.com/us/freight/main/. Customers may access rate quotes via the site.
FedEx Freight Overview
Within FedEx Corp., the FedEx Freight Segment had annual revenues of $3.2 billion in fiscal year 2005. The Segment includes FedEx Freight, a leading U.S. provider of regional next-day and second-day and interregional LTL freight services. With corporate offices in Memphis, Tenn., FedEx Freight is known for exceptional service, reliability and on-time performance. Through a comprehensive network of 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 interregional 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. FedEx Freight maintains more than 330 service centers throughout North America. The FedEx Freight Segment also includes 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.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $32 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brands. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 260,000 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 fedex.com.
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