Federal Express Starts Construction on New Mid-Atlantic Distribution Hub in Maryland

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated). FedEx Ground, an operating unit of Federal Express Corporation (NYSE: FDX) (Memphis, Tennessee), starts construction on a new distribution hub in Hagerstown, Maryland (PEC 26000821). The new hub is part of a $1.8 billion network expansion plan calling for 10 facilities to be built over the next six years. The $1.8 billion expansion also calls for the expansion of 23 existing hubs and the expansion or relocation of over 300 pickup and delivery terminals. The nationwide expansion is expected to double the company's average daily volume capacity to 4.8 million packages due to increased customer demand.

Located in Washington County, off of Halfway Boulevard in the Tier Developments Hunter's Green Business Center, the 360,000 square foot distribution hub will be built on a 114-acre site. Site Preparation is expected to start in November/December 2003 with concrete pouring beginning in early 2004 and electrical work in January/February 2004. The new Hub is expected to open in early 2006. The facility is expected to process about 45,000 packages per hour and employ more than 1,000 workers when it reaches full capacity. Three other FedEx Ground hubs are slated for opening in 2006 located in Dallas, Texas, Cincinnati, Ohio and Memphis, Tennessee.

Gilbane Building Company, headquartered in Lawrenceville, New Jersey, will be constructing the new facility.

FedEx Corporation, North America's second largest small-package ground carrier with more than 500 distribution hubs and local pickup and delivery terminals throughout the United States and Canada, has a reported annual revenue of $3.4 billion in the fiscal year 2003.

Federal Express Corporation, the premier global provider of transportation, e-commerce and supply chain management services, has annual revenues of $22 billion offering integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, FedEx Ground, FedEx Freight, FedEx Custom Critical, and FedEx Trade Networks.