FedEx Express yesterday said it will build a $150 million Asia/Pacific hub at Guangzhou Baiyun International Airport to replace its existing hub in Subic Bay, Philippines. The new facility is expected to open in December 2008, at which time the Subic Bay hub will close. "More than two decades ago, we envisioned China as a nexus of global supply and demand and as a result became the first express carrier to enter the market," FedEx Corp. Chairman and CEO Frederick Smith said. "Today, with ...

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