Fed Ex wins government contract

The Defense Department has awarded a $58.7 million contract to Federal Express Corp. for cargo shipments, The Associated Press reported.

The contract is for shipping of a wide variety of cargo for the Air Force overseas. The contract runs from October 2008 to September 2012.

In recent years, Fed Ex, among other companies, has been awarded hundreds of millions of dollars in contracts from the Department of Homeland Security to test missile defense systems.