FedEx delays Guangzhou, China hub opening to 2009
MEMPHIS, Tenn.
FedEx Corp. on Monday said it was pushing back the opening of its new hub in Guangzhou, China, to the first half of next year.
The company did not offer a reason for the delay. The hub, to be run by subsidiary FedEx Express, was originally scheduled to open by the end of 2008.
"The revised operations date provides FedEx with the necessary time to fully test all systems and processes, as well as work closely with the Guangzhou authorities to ensure all necessary approvals are in place," the company said in a statement.
The hub at Guangzhou Baiyun International Airport in southern China will be the company's largest outside the U.S. FedEx said service would not be hurt by the delay because its current Asia-Pacific hub in Subic Bay in the Philippines will stay open.
FedEx shares fell $1.11 to $63.27 in morning trading.
FedEx delays Guangzhou, China hub opening to 2009 - BusinessWeek