FedEx Announces Formation of FedEx Freight
February 12, 2001
Shareholders of American Freightways Friday approved its merger with a subsidiary of FedEx, and FedEx officially announced the creation of FedEx Freight.
The $1.9 billion less-than-truckload subsidiary includes American Freightways and Viking Freight. FedEx Freight is the latest addition to the FedEx family of operating companies that "operate independently but compete collectively."
Both American Freightways and Viking provide next-day and second-day regional freight delivery. FedEx Freight is a holding company; Viking and AF will continue to operate under separate identities. Sales forces for both companies will be trained to cross-sell each other's services. Leading FedEx Freight will be Douglas G. Duncan, previously president and CEO of Viking.