Tag Archives: Con-way

ASDA UK RENEWS REVERSE LOGISTICS CONTRACT WITH XPO

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GREENWICH, Conn. – September 27, 2016 – National British supermarket chain ASDA Stores, Limited has renewed its long-term agreement with XPO Logistics (NYSE: XPO) for reverse logistics operations. Under the new contract, XPO will continue to manage nine ASDA service centers for the Leeds-based retailer. XPO washes millions of units of returnable transit equipment each year for ASDA and repairs them when necessary.

XPO has worked with ASDA to introduce a wide range of innovations in the service centers, including a “zero waste to landfill” (ZWTL) solution that helps ASDA meet its recycling goals for more than 600 stores in the U.K. Many of the solutions have been custom-developed through this relationship, reducing costs along the supply chain by bringing more logistics functions in-house. Proprietary XPO technology developed with ASDA tracks the assets and manages hundreds of supplier accounts.

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XPO LOGISTICS ANNOUNCES FALL 2016 GENERAL RATE INCREASE FOR LESS-THAN-TRUCKLOAD SERVICE

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GREENWICH, Conn. – September 12, 2016 – XPO Logistics (NYSE: XPO) today announced that it will implement a general rate increase averaging 4.9%, applicable to non-contractual less-than-truckload (LTL) transactions, effective September 26, 2016.

The rate increase will go into effect for customers on the company’s 599 tariff. It will apply to general LTL rates, minimum charges for LTL shipments moving within the United States and Canada, cross-border shipments moving between the United States, Puerto Rico and Canada, and the domestic U.S. portion of shipments into Mexico. Once effective, the new rates can be viewed online at the XPO customer portal, LTL.XPO.com.

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XPO LOGISTICS RECOGNIZES SEVEN PROFESSIONAL DRIVERS FOR SURPASSING TWO AND THREE MILLION SAFE DRIVING MILES

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GREENWICH, Conn. – August 30, 2016 – XPO Logistics (NYSE: XPO) today announced that two of its professional truck drivers have surpassed three million safe driving miles, and five additional drivers reached the two-million-mile mark. The drivers, who operate in long-haul service for XPO’s truckload business, were honored this month during a ceremony at the company’s service center in Clive, Iowa.

XPO has recognized Charles Robinson of Albia, Iowa, and  Pat Squier of Des Moines, Iowa, for three million safe driving miles; and Bryan Crosswhite of Findlay, Ohio, Charles Howell of Clay City, Ky., Donald Jackson of Queen City, Mo., Phillip Oaks of Jackson, Ky., and Mark Orr of Reelsville, Ind., for two million safe driving miles.

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XPO LOGISTICS ANNOUNCES PRICING OF $1.6 BILLION TERM LOAN CREDIT FACILITY

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GREENWICH, Conn. – August 17, 2016 – XPO Logistics, Inc. (NYSE: XPO) (“XPO”) today announced the pricing of a $1.642 billion refinancing of its existing term loan agreement. The closing under the term loan is expected to occur on August 25, 2016, subject to customary closing conditions.

The term loan will be issued at par and will bear interest at a rate of LIBOR plus 3.25%, with a 1.0% LIBOR floor, maturing on October 30, 2021. The proceeds will be used primarily to replace the company’s existing $1.6 billion term loan, which bears interest at LIBOR plus 4.5%, with a 1.0% LIBOR floor. The terms of the new loan facility will otherwise be substantially consistent with the term loan being replaced.

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XPO Logistics Professional Drivers Take Top Honors at 2016 National Truck Driving Championships

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GREENWICH, Conn. – August 15, 2016 – XPO Logistics (NYSE: XPO) today announced that two of its professional truck drivers each took first place in their competition classes at the 2016 National Truck Driving Championships (NTDC). The event was held this past weekend in Indianapolis, Indiana.

Known as the “Super Bowl of Safety,” the NTDC began in 1937 and is conducted annually by the American Trucking Associations. The competition brings together some 400 of the nation’s most accomplished professional drivers. The participants must win at the state level to advance to the national finals.

Taking home national titles for XPO Logistics this year were two of the company’s less-than-truckload drivers:

  • Chris Poynor, from Pasco, Wash., winner of the twin-trailer competition class; and
  • Jeff Langenhahn, from Stevens Point, Wisc., winner of the tank truck class. Langenhahn was the NTDC Grand Champion in 2014.

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XPO Logistics Announces Pricing of Private Offering of $535 Million 6.125% Senior Notes

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GREENWICH, Conn. – August 12, 2016 – XPO Logistics, Inc. (“XPO” or the “Company”) (NYSE:  XPO) today announced the pricing of its previously announced issuance of $535.0 million of senior notes due 2023.  The closing of the private placement offering is expected to occur on August 25, 2016, subject to customary closing conditions.

The notes will bear interest at a rate of 6.125% payable semiannually, in cash in arrears on March 1 and September 1 of each year, commencing on March 1, 2017 and maturing on September 1, 2023. XPO intends to use the proceeds from this offering, together with proceeds of an incremental term loan facility described below and cash on hand, to redeem and/or discharge or defease, in whole or in part, the Company’s 7.875% Senior Notes due 2019, and to pay fees and expenses related thereto and related to the offering and to the incremental term loan facility described below. If consummated, these transactions would effectively extend the average maturity of the Company’s indebtedness.

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XPO Logistics Announces Private Offering of $535 Million Senior Notes

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GREENWICH, Conn. – August 11, 2016 – XPO Logistics, Inc. (“XPO” or the “Company”) (NYSE:  XPO) today announced an offering of $535.0 million of senior notes due 2023.  The Company intends to use the proceeds from this offering, together with proceeds of an incremental term loan facility described below and cash on hand, to redeem and/or discharge or defease, in whole or in part, the Company’s 7.875% Senior Notes due 2019, and to pay fees and expenses related thereto and related to the offering and the incremental term loan facility described below.

The Company intends to enter into a $400.0 million incremental term loan facility (the “Incremental Facility”) under the Company’s existing term loan credit agreement, subject to certain customary conditions. The terms of the Incremental Facility are expected to be substantially similar to those relating to the loans outstanding under the Company’s existing term loan credit agreement, except with respect to the interest rate applicable to the Company’s borrowings under the Incremental Facility and prepayment premiums in connection with certain voluntary prepayments. The Company anticipates borrowing the loans under the Incremental Facility substantially simultaneously with the consummation of the offering of notes described above.

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XPO Logistics Announces Second Quarter 2016 Results

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GREENWICH, Conn. – August 3, 2016 – XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the second quarter of 2016. Total gross revenue increased 202.9% year-over-year to $3.7 billion. Net income attributable to common shareholders was $42.6 million for the quarter, or earnings of $0.35 per diluted share, compared with a net loss attributable to common shareholders of $75.1 million, or a loss of $0.89 per diluted share, for the same period in 2015.

The adjusted net income attributable to common shareholders, a non-GAAP measure, was $50.4 million, or earnings of $0.42 per diluted share for the second quarter of 2016, excluding the items detailed below. This compares with an adjusted net loss attributable to common shareholders of $13.6 million, or a loss of $0.16 per diluted share, for the second quarter of 2015.

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INTERSPORT Selects XPO Logistics to Manage Its First Outsourced Logistics Warehouse in Europe

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GREENWICH, Conn. — July 13, 2016 — XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has announced that it will manage the first outsourced logistics warehouse for INTERSPORT, the largest sporting goods retail network in Europe. The warehouse will serve 600 retail outlets in France and Belgium, and is expected to handle eight million items annually from 122 suppliers within 24 months of opening. The five-year contract will initiate in January of 2017.

Strategically located adjacent to INTERSPORT’s warehouse in Saint-Vulbas (Ain), France, the new facility will allow INTERSPORT to better centralize the flow of goods and progressively increase its storage capacity in line with its rapid growth. Both warehouses will utilize Reflex software combined with a transportation management system to fully integrate the managed flow of goods. Furthermore, the proximity of the two warehouses will optimize transportation capacity.

XPO has designed a customized logistics solution to meet the requirements of INTERSPORT franchisees. The company will package products of all sizes and volumes, and will prepare single-item deliveries as a customer service for retail outlets. The XPO facility in Lyon, France, which already handles sports products, will help manage peaks in activity and the seasonality of product lines.

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XPO Logistics Named Fastest-Growing Company in Fortune 500

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GREENWICH, Conn. — July 11, 2016 — XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has been named the fastest-growing company on the Fortune 500 list. The Fortune 500 list identifies the largest U.S. companies by revenue. XPO Logistics ranks number 353 for 2015, from 909 the prior year.

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “2015 was a transformative year for us, capped by our inclusion as a Fortune 500 company for the first time. Our ranking as the fastest-growing Fortune 500 company is a further testament to our strategy, which drove the expansion of our operations in Europe and North America. XPO is now a $15 billion company at the inflection point to create significant returns.”

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