Benzinga | Dec 14, 2021 03:58PM EST

Fedex Express Completes Expansion At Miami International Airport

* FedEx Corp (NYSE:FDX) subsidiary FedEx Express completed a $72.2 million expansion of its air cargo hub at Miami International Airport, adding more than 138,000 square feet to the main sort facility.

* The enhancements include the largest cold chain facility in the FedEx global network, more than doubling the capacity of the customs clearance area, and the creation of hundreds of new jobs.

* This expansion will increase capacity and capabilities at the company's Americas gateway, connecting the U.S. and Canada to Latin America and the Caribbean.

* "The added cold chain capacities will enable us to expand verticals in the Latin American region that require refrigeration, and the new customs clearance space will help expedite trade in and out of the busy air cargo port," said Juan Cento, Regional President, FedEx Express Latin America and the Caribbean.

* Price Action: FDX shares are trading lower by 0.33% at $240.10 on the last check Tuesday.