XPO Logistics

Non asset-based 3PL XPO Logistics and Trinity Health, an Indiana-based, multi-institutional Catholic healthcare system with hospitals in 21 states, said today they have rolled out plans to build a $26 million, state-of-the-art Trinity Health supply distribution center in Fort Wayne Indiana.

Total gross fourth quarter revenue for XPO saw a 302.3 percent annual increase to $3.3 billion, with net revenue up 419.8 percent to $1.6 billion, and for the full-year 2015 XPO had total revenue of $7.6 billion for a 223.5 percent annual increase.

In an 8-K filing with the Securities Exchange Commission this week, third-party logistics and freight transportation services provider XPO Logistics said it plans to retain the truckload business it acquired through its $3 billion October 2015 acquisition of freight transportation and logistics services provider Con-way Inc.

XPO Logistics Inc. will keep the truckload trucking unit it acquired with the $3 billion purchase of Con-way Inc. last year after weighing whether to sell it.

XPO Logistics is extending its cost-reduction effort at former Con-way Freight operations by closing service centers in remote locations.

A recent Wall Street Journal report stated that third-party logistics and freight transportation services provider XPO Logistics shut down seven freight terminals that were part of the Con-way Inc. less-than-truckload (LTL) network, Con-way Freight. Con-way was acquired by XPO for $3 billion last year.

Third-party logistics and freight transportation services provider XPO Logistics said late last week that it has commenced a workforce reduction for its less-than-truckload (LTL) unit, which it acquired from Con-way, when XPO acquired Con-way last year.

As part of creating a more efficient less-than-truckload (LTL) organization, XPO Logistics has dismissed three top executives from former Con-Way Inc's Menlo Worldwide Logistics, and is eliminating numerous non-sales positions from the company.

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With the ink now dry from XPO Logistics’ acquisition of Con-way Inc. now dry, the company’s plan for how it plans to integrate Con-way into its plans is coming into fuller focus.

Fast-growing XPO Logistics, an entity that didn’t even exist five years ago, is growing revenue at a faster pace than even the Greenwich, Conn.-based conglomerate expected on the heels of finalizing its $3 billion purchase of Con-way Inc.

XPO Logistics announced financial results for the third quarter of 2015; total gross revenues increased by 256.5% year-over-year to $2.4 billion, and net revenue increased 542.4% to $1.1 billion.

Following an announcement made on September 9, when it said it planned to acquire Con-way, an Ann Arbor, Mich.-based provider of transportation and logistics services, including its flagship less-than-truckload group Con-way Freight, Con-way Truckload, and its global 3PL unit Menlo Logistics, for $3 billion, non asset-based 3PL XPO Logistics said today the deal has officially been completed.

Logistics Management Magazine Group News Editor Jeff Berman recently caught up with XPO Logistics Chairman and CEO Bradley Jacobs to discuss XPO Logistics' M&A.