FEDEX TRADE NETWORKS RENAMES TOWER, LAUNCHES SHIPPING TOOLS

FEDEX TRADE NETWORKS RENAMES TOWER, LAUNCHES SHIPPING TOOLS

   FedEx Trade Networks Inc., the FedEx Corp. subsidiary, said it would reorganize its company structure, implement new branding strategy with its Tower Group International Inc. subsidiary, and introduce new international shipping tools.

   Tower will change its name to FedEx Trade Networks Transport and Brokerage Inc., effective July 8, and will continue to offer customs brokerage, international freight forwarding and other international shipping services.

   FedEx Trade Networks will also create a new subsidiary, FedEx Trade Networks Trade Services Inc., which will incorporate the duty and tax data services of current subsidiary, Worldtariff. The new subsidiary, which will also kick off July 8, will offer international consulting services and introduce a set of integrated shipping resources known as Global Trade Tools.

   FedEx Trade Networks has hired Mark Neville, previously the partner in charge of the KPMG Trade and Customs Practice, to lead the new trade services unit.

   Global Trade Tools are designed to streamline, automate and simplify the shipping process for large customers, the company said. The tools are directly integrated into a customer's supply chain management or logistics systems. Customers supply shipment information via direct computer link and Global Trade Tools 'processes' the international transactions, from Harmonized System classification to document preparation, FedEx Trade Networks said.

   FedEx Express offers FedEx Global Trade Manager, a Web-based application designed to provide similar services to small and medium-sized businesses. Global Trade Manager offers a carrier-provided online duty and tax estimator via www.fedex.com.