FedEx Renames New Subsidiary

Memphis, TN-based FedEx Corp. is renaming New Berlin, WI-based Parcel Direct -- its newly acquired national parcel consolidator -- FedEx SmartPost to more firmly enmesh the company into its FedEx Ground small-package delivery unit.

FedEx SmartPost operates a lower-cost parcel delivery network specifically built to tender low-weight, less time-sensitive packages into the U.S. Postal Service system, typically at the local post-office level, for final delivery to residences.

FedEx hopes to target the burgeoning Internet retail market – called “e-tailing” – and catalog industries with its new subsidiary.