( BW)(TN-FEDEX-FREIGHT)(FDX) FedEx Freight Announces General Rate
Increase; Plans to Improve Services, Offset Costs
Business Editors
MEMPHIS, Tenn.--(BUSINESS WIRE)--June 27, 2002--FedEx Freight will
implement a 5.9 percent general rate increase effective July 22, 2002
as it continues to make investments for better customer service.
The increase will cover the company's two independent operating
units, FedEx Freight East and FedEx Freight West. FedEx Freight is the
leader in regional LTL (less-than-truckload) freight services and a
subsidiary of FedEx Corp. (NYSE:FDX).
The increase applies to intra- and interstate traffic, including
Canadian transborder and other international lanes, as well as minimum
and accessorial charges. Various additional adjustments will be made
to selected lanes and service areas.
"This increase is necessary to support and improve our technology
offerings, service centers, equipment, and safety and security
programs," said Dennie C. Carey, FedEx Freight's senior vice president
of marketing. "We plan to continue providing reliable, responsive,
award-winning services that help our customers manage their businesses
more effectively."
"It will also be used to partially offset substantial increases in
health care costs and insurance premiums in fiscal year 2003," said
Carey. "In the last fiscal year we experienced double-digit increases
in these categories. We expect substantial increases again in FY '03."
FedEx Freight East and FedEx Freight West will have a single base
rate tariff and a single rules tariff to make shipping with FedEx
Freight easier and more convenient. Shippers will be able to get rate
quotes online at fedexfreight.fedex.com. After July 22, 2002 the new
FedEx Freight base rate and rules tariffs will be available on the Web
site.
About FedEx Freight
As a member of the FedEx Corp. family of companies, FedEx Freight
is the $2 billion leading provider of next-day and second-day regional
LTL freight services. FedEx Freight is composed of two operating
companies, FedEx Freight East and FedEx Freight West, both known for
exceptional service, reliability and on-time performance. Through a
comprehensive network of service centers and advanced information
systems, the two companies provide service to virtually all U.S. zip
codes, including Alaska and Hawaii, plus Puerto Rico. Internationally,
they provide service to North, Central, and South America, the
Caribbean and Europe. More information about FedEx Freight East, based
in Harrison, Ark., and about FedEx Freight West, based in San Jose,
Calif., can be found at www.fedexfreight.fedex.com.
About FedEx
With annual revenues of $21 billion, FedEx Corp. is the premier
global provider of transportation, e-commerce and supply chain
management services. The company offers integrated business solutions
through a network of subsidiaries operating independently, including:
FedEx Express, the world's largest express transportation company;
FedEx Ground, North America's second largest provider of small-package
ground delivery service; FedEx Freight, the largest U.S. provider of
regional less-than-truckload freight services; FedEx Custom Critical,
the world's largest provider of expedited time-critical shipments; and
FedEx Trade Networks, a provider of customs clearance, international
freight forwarding and trade facilitation.
NOTE TO EDITORS: Press releases and additional information about
FedEx Corp. and its operating companies can be found on the World Wide
Web at http://www.fedex.com.
--30--mc/sf*
CONTACT: FedEx
Kathy Keller, 408/323-4238
kathy.keller@fedex.com
KEYWORD: ARKANSAS CALIFORNIA TENNESSEE
INDUSTRY KEYWORD: TRANSPORTATION
SOURCE: FedEx
