Carmelo Caruana Company Ltd, the shipping and logistics company, has acquired two Malta-based parcel service providers, Airsped Express Ltd and Global Parcels Ltd.

Airsped Express is the Malta nominated service contractor for FedEx Express, a brand of FedEx Corporation, the world's largest express transportation company. FedEx Express services more than 220 countries and territories, providing rapid, air-ground express service through 375 airports. FedEx Express delivers a daily average of four million packages.

Global Parcels is the representative for General Logistics Systems, one of the leading parcel service providers in Europe.

Currently based in Paola, the Airsped Express and Global Parcels teams will move into Carmelo Caruana Company Ltd's office in Valletta Road, Marsa later on this year.

With Carmelo Caruana Company as their parent, Airsped Express and Global Parcels are now part of the Hili Company, a group of diverse transport and logistics activities in Malta, Lithuania and Belarus. Hili Company, which also incorporates electrical and mechanical engineering service company Motherwell Bridge Industries, is a subsidiary of Hili Ventures.

"This acquisition presents significant potential for growth," said Davide Biron, chief executive officer, Hili Company. "This development is key to the ambitions of both Carmelo Caruana Company and Hili Company and fits the Group's vision to grow in regions where it is already present and partner with leading global brands."