XPO Logistics and Planned Spin-off RXO Named to the FreightTech 100 by FreightWaves
September 21 2022 - 7:00AM
XPO Logistics, Inc. (NYSE: XPO), a leading provider of freight
transportation services, has been named to the 2023 FreightTech 100
by FreightWaves, a global source for supply chain market
intelligence. RXO, the planned spin-off of XPO’s tech-enabled
brokered transportation platform, was also named to the list. The
FreightTech 100 list recognizes the most innovative companies in
the transportation industry.
Mario Harik, XPO’s chief information officer and
incoming chief executive officer, said, “We’ve spent more than $3
billion on technology over the last 11 years to ensure we’re
helping our customers move goods through their supply chains as
efficiently as possible. We’re honored to be recognized by
FreightWaves for our technological innovation as we move XPO closer
to becoming a pure-play less-than-truckload business.”
Drew Wilkerson, XPO’s president, North American
transportation and incoming RXO chief executive officer, said,
“Cutting-edge technology is at the core of RXO’s mission to keep
customers ahead of the marketplace. We’re thrilled to receive this
first recognition from FreightWaves under the new spin-off brand as
we prepare to create a standalone brokered transportation leader
with rapid growth potential.”
More than 1,500 nominations were submitted for the
2023 FreightTech 100. In November, the winners will be narrowed
down to the FreightTech 25, which recognizes the industry’s most
disruptive companies.
About XPO LogisticsXPO Logistics,
Inc. (NYSE: XPO) is a leading provider of freight
transportation services, primarily less-than-truckload (LTL) and
truck brokerage. XPO uses its proprietary technology, including the
cutting-edge XPO Connect® automated freight marketplace, to move
goods efficiently through supply chains. The company’s global
network serves 50,000 shippers with approximately 749 locations and
43,000 employees, and is headquartered in Greenwich, Conn.,
USA. Visit xpo.com and europe.xpo.com for more
information, and connect with XPO
on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Forward-looking StatementsThis release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, including
statements relating to the planned spin-off, the expected timing of
the transaction and the anticipated benefits of the transaction.
All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements.
These forward-looking statements are based on
certain assumptions and analyses made by us in light of our
experience and our perception of historical trends, current
conditions and expected future developments, as well as other
factors we believe are appropriate in the circumstances. These
forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels
of activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking
statements. Factors that might cause or contribute to a material
difference include the risks discussed in our filings with the SEC,
which may be accessed on the investor page of our
website.
All forward-looking statements set forth in this
release are qualified by these cautionary statements and there can
be no assurance that the actual results or developments anticipated
by us will be realized or, even if substantially realized, that
they will have the expected consequences to or effects on us or our
business or operations. Forward-looking statements set forth in
this release speak only as of the date hereof, and we do not
undertake any obligation to update forward-looking statements to
reflect subsequent events or circumstances, changes in expectations
or the occurrence of unanticipated events, except to the extent
required by law.
The spin-off remains subject to various
conditions, including the effectiveness of the Form 10 registration
statement, receipt of a tax opinion from counsel, the refinancing
of XPO’s debt on terms satisfactory to the XPO board of directors,
and final approval by the XPO board of directors, among other
requirements. There can be no assurance that the planned spin-off
will occur or, if it does occur, the terms or timing.
Media Contacts
Karina
Frayter+1-203-484-8303karina.frayter@xpo.com
Nina
Reinhardt+1-980-408-1594nina.reinhardt@xpo.com
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