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FedEx introduces new Miami gateway center

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FedEx introduces new Miami gateway center

BY GILLIAN WEE

[email protected]

FedEx today launched a $50 million facility to boost its trade with Latin America, which doubles its capacity and boosts its fast-growing international expansion.

Called the Miami Gateway Hub, the 23-acre facility with in-house customs officials will allow FedEx to sort 6,000 packages an hour, or 40,000 a day. FedEx has 20 flights a day to and from Miami.

''Our international business has been growing so fast for such a long time,'' said David Bronczek, president and chief executive of FedEx Express, the company's air freight unit. ``This facility is unique because we have a lot more capacity to handle shipments. Now with customs on-site, it's a major plus.''

The hub will boost trade with Latin America and the Caribbean, and its other international regions: Asia-Pacific, Europe, Africa and the Middle East. Its international business contributed $6 billion, or 24 percent, of its total revenue of $25 billion in its fiscal year of 2004, which ended in May. That represents a 20 percent increase in international business from the previous year's revenues of $5 billion.

The gateway cements FedEx's position as the world's top air freight company.

''As far as air freight is concerned, FedEx has had a leading position in the market for many years,'' said analyst David P. Campbell, at the Richmond, Va.-based brokerage, Thompson, Davis & Co. ``There'll be tremendous traffic between Asia-Pacific and South America, and that'll run through Miami.''

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