FedEx to Close Its Hub in Philippines (AP)

[News Manager]

AP - In a move to exploit China's fast-growing market, FedEx Corp. said Wednesday it will close its Asian hub in the Philippines and replace it with a new $150 million facility in Guangzhou, southern China.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050713/ap_on_bi_ge/china_fedex_asian_hub]Read more...[/url]