Fritz to sell division that works for FedEx
By
Posted 4:05PM on Thursday 31st January 2002 ( 22 years ago )
ATLANTA - United Parcel Service Incorporated's custom brokerage unit Fritz plans to sell a division that performs work entirely for FedEx Corporation to that company's Tower Group International unit. <br>
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The sale will affect one-thousand workers who will change employers. The positions are in Anchorage, Alaska; Memphis, Tennessee; Oakland, California and Springfield, Missouri. Terms of the transaction were not disclosed. <br>
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Atlanta-based UPS purchased Fritz in January 2001, prompting FedEx to sue over access to customer information UPS gained through the acquisition. UPS then filed a countersuit. <br>
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Both companies said the sale to Tower Group will resolve the litigation when the deal closes in 30 days. Tower Group is a division of FedEx Trade Networks, a FedEx subsidiary.
http://accesswdun.com/article/2002/1/199426
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