FedEx Logistics, a subsidiary of FedEx Corp. (NYSE: FDX), announced the opening of another Foreign Trade Zone (FTZ) location in El Paso, Texas, U.S. The site in El Paso is the latest FTZ facility to be opened by FedEx Logistics in addition to existing locations in Los Angeles, New York, Dallas and Chicago. These facilities enable importers and exporters shipping goods into the U.S. to benefit from a wide range of duty and tax incentives while reducing costs, reducing inefficiencies and satisfying warehousing and logistics needs in one convenient location.
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"This new Foreign Trade Zone's business-friendly regulations and first-class logistics infrastructure can give our customers the edge they need to succeed in the competitive global market," said Udo Lange, President and CEO of FedEx Logistics. "Trade is the lifeblood of the global economy, so FedEx Logistics is delighted to give businesses another way to tap into suppliers and markets -- and ultimately, new sources of revenue and growth -- all over the world."
El Paso is a key gateway in and out of Mexico because of its strategic location on the U.S./Mexico border. By complementing its full range of freight forwarding capabilities with FTZ services, FedEx Logistics is providing customers with the solutions they need to grow their businesses in the area. The City of El Paso, one of the largest metro areas along the border, has the added advantage of a well-developed infrastructure, which enables industries to efficiently move goods.
A Foreign Trade Zone is a secure, controlled area located in the U.S. that is treated as if it is located outside the country for customs-entry purposes. FTZs give customers many ways to defer, reduce or avoid customs duties and merchandise-processing fees. The sites can be used to streamline the international movement of raw materials and components and to manufacture or assemble higher-value products that incur lower tariffs -- among many other benefits.
FedEx Logistics FTZ Services offer inventory tracking, quality control, security, and cross-docking and transferring of goods. Click here for more information.
FedEx plays a critical role in expanding global trade, helping to build nimble supply chains and delivering local products and services to customers around the world.
About FedEx Logistics
FedEx Logistics plays a key role within the FedEx portfolio, connecting 99% of the world's gross domestic product (GDP) with its comprehensive suite of specialty logistics solutions. The company provides air and ocean freight forwarding, supply chain solutions, customs brokerage, and trade management tools and data from a single trusted source. For more information, visit fedex.com/logistics.
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SOURCE: FedEx Logistics, Inc.
James Calderwood Sr. Communications Specialist FedEx Logistics +1.901.529.6006 email@example.com