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FEDEX ACQUIRES PARCEL CONSOLIDATOR

MEMPHIS - The FedEx Corporation has reportedly completed the $120 million acquisition of leading national parcel consolidator Parcel Direct from Quad/Graphics.
 
Parcel Direct will operate as a subsidiary of FedEx Ground and will be led by newly-appointed President and Chief Executive Officer Ward Strang.
 
Strang, a 16-year veteran of FedEx Ground, was instrumental in establishment of the company's dedicated residential ground service, FedEx Home Delivery.
 
Parcel Direct is headquartered in New Berlin, Wisconsin and operates a network of 12 distribution hubs staffed by 450 employees.
 
EU WILLING TO TRADE ON AIRBUS AID
 
BRUSSELS, Belgium - The European Union says if Washington will reduce aid to the Boeing Co., it will consider cutting its subsidies to commercial aircraft manufacturer Airbus Industries.
 
Boeing and Airbus have traded allegations of unfair subsidies for years.

Recently, Boeing stepped up the rhetoric against the practice of Airbus receiving government loans at below-market rates to develop new aircraft - and not being required to pay the loans back if the new aircraft are not profitable.
 
Last month, President Bush said his administration would challenge "unfair" EU subsidies at the World Trade Organization.

Airbus has countered by charging that Boeing receives aid via US defense, space, and transport contracts.

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