Expeditors International of Washington Inc was incorporated in the state of Washington in May 1979 and began operations in 1981 by coordinating airfreight shipments from Asia to the U.S. It is engaged in the business of providing logistics services. The Company offers its customers a seamless international network supporting the movement and strategic positioning of goods. It purchases cargo space from carriers (including airlines and ocean shipping lines) on a volume basis and resells that space to its customers. The Company does not compete for overnight courier or small parcel business and it does not own aircraft or steamships. The Company provides customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance, and customized logistics solutions. In addition, the Company's Project Cargo unit handles special project shipments that move via a single method or combination of air, ocean, and/or ground transportation and generally require a high level of specialized attention because of the unusual size or nature of what's being shipped. Its services include: Airfreight Services, Ocean Freight and Ocean Services and Customs Brokerage and Other Services. Within airfreight, the Company typically acts either as a freight consolidator or as an agent for the airline that carries the shipment. Whether acting as a consolidator or agent, it offers customers routing expertise, familiarity with local business practices, knowledge of export and import documentation and procedures, the ability to arrange for ancillary services and assistance with space availability in periods of peak demand. Within ocean freight services, it offers three basic services: ocean freight consolidation, direct ocean forwarding, and order management. The primary competitive factors in the logistics services industry continue to be price and quality of service, including reliability, responsiveness, expertise, convenience, and scope of operations. With respect to the Company's activities in the air transportation industry in the United States, it is subject to regulation by the Transportation Security Administration ('TSA') of the Department of Homeland Security as an indirect air carrier.
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