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XPO Logistics Plans to Invest Up to $90 Million in Road Fleet in North America
XPO Logistics Plans to Invest Up to $90 Million in Road Fleet
GREENWICH, Conn. - May 31, 2018 - XPO Logistics (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced plans to invest approximately $90 million in 770 new tractors for its less-than-truckload (LTL) network in 2018. The company, which is the second largest LTL provider in North America, expects to integrate the new units into its fleet throughout the year.
Troy Cooper, president of XPO Logistics, said, "We're committed to giving our LTL drivers the latest technologies for comfort and safety. These new tractors also reflect our commitment to the environment by providing improved fuel efficiency and reducing emissions."
The new tractors will have 15-liter engines and 12-speed transmissions, replacing models with 13-liter engines. The larger engine is expected to offer a more optimal blend of performance, fuel economy, emissions characteristics and engine life, given the load profile of the company's LTL network. The units will also feature the latest safety technologies, including lane departure warning systems, adaptive cruise control and collision mitigation systems to assist drivers.
This press release includes forward-looking statements within the meaning of United States federal securities law. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. All forward-looking statements set forth in this press release are qualified by factors that might cause or contribute to a material difference in actual results, as discussed in XPO's filings with the U.S. Securities and Exchange Commission and linked to the investor relations section of the company's website, www.xpo.com, including: economic conditions generally; competition; XPO's ability to match its investments in equipment, service centers and warehouses with customer demand; XPO's ability to attract and retain key employees; and XPO's ability to develop and implement a suitable information technology system. Forward-looking statements set forth in this press release speak only as of the date hereof, and XPO undertakes no 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.