FedEx on Asian Expansion Developments (FDX 1Q06 Conf Call Quotes)

FedEx (ticker: FDX) Chairman, President and CEO Fred Smith had the following to say about his company's strategic growth plans in Asia during management's Q1 2006 earnings results conference call:

In the first quarter, FedEx also extended our leadership position in facilitating global trade. In July we announced our plan to build a new Asia Pacific hub in Guangzhou, China at the new Baiyun airport, which will be the center of trade for the Asia Pacific region. Earlier this month we announced the launch of a new daily eastbound around the world flight offering the first overnight express link between India and China. These developments are significant given the ever increasing impact of these two economic powerhouses to the world economy.

(Quotes are from the CCBN StreetEvents transcript.)

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