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|XPO Logistics Announces Expansion of Last Mile Network - Completed network will reach 90% of U.S. population|
GREENWICH, Conn. - September 12, 2017 - XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced plans to nearly double its current last mile footprint to 85 service hubs by late 2018. The expansion, which is currently underway, will position XPO's last mile footprint within approximately 90% of the U.S. population, further reducing transit times.
XPO is the largest last mile logistics provider for heavy goods in North America, with industry-leading consumer satisfaction scores enabled by technology. The company facilitates nearly 13 million home and commercial deliveries, with the majority including installation and assembly of appliances, large electronics, furniture and other hard-to-handle items each year. Consumers are increasingly buying these products online, adding to the rapid growth of e-commerce supply chains.
Troy Cooper, chief operating officer of XPO Logistics, said, "We're continuing to make significant investments in our facilities, technology, staffing and training to deliver world-class solutions for our customers. As the leading national last mile network specializing in heavy goods, we're uniquely positioned to provide a consistent consumer experience that protects retail brands. Now we're making it even faster and more cost effective to transport goods direct to homes."
XPO expects to open its next eight hubs in Birmingham, Ala.; Buffalo, N.Y.; Jacksonville, Fla.; Long Island, N.Y.; Los Angeles, Calif.; Milwaukee, Wisc.; Tulsa, Okla.; and Washington, D.C. Skilled teams at each facility will perform inspections, repairs, pre-assemblies and other value-added services in preparation for delivery.
About XPO Logistics
This press 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 our plans to expand our last mile network and the expected number and location of our service hubs. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory" or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. 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 and the following: economic conditions generally; competition and pricing pressures; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our customers' demands; our ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our substantial indebtedness; our ability to raise debt and equity capital; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain qualified drivers; litigation, including litigation related to alleged misclassification of independent contractors; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers and efforts by labor organizations to organize our employees; risks associated with our self-insured claims; risks associated with defined benefit plans for our current and former employees; fluctuations in currency exchange rates; fluctuations in fixed and floating interest rates; our ability to execute our growth strategy through acquisitions; fuel price and fuel surcharge changes; issues related to our intellectual property rights; governmental regulation, including trade compliance laws; and governmental or political actions, including the United Kingdom's likely exit from the European Union. All forward-looking statements set forth in this press 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 press 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.
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