XPO Logistics Expands Transportation Partnership with Corteva

Rhea-AI Summary

XPO Logistics, a global leader in transportation and logistics, has secured a new multi-year contract with Corteva Agriscience, enhancing its role in their supply chain. This expanded partnership includes truck brokerage and less-than-truckload services, supporting Corteva's seed distribution and crop protection products.

The collaboration, ongoing since Corteva's 2019 spin-off from DowDuPont, capitalizes on XPO's industry expertise and technology to drive efficiencies and support Corteva's growth plans.

Positive

• Secured a multi-year contract with Corteva Agriscience, enhancing service offerings.
• Expanded support for Corteva's seed distribution and crop protection products.
• Leverages XPO's expertise and technology to foster efficiency in Corteva's supply chain.

Negative

• None.

GREENWICH, Conn., Jan. 26, 2021 (GLOBE NEWSWIRE) --  XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has secured a new, multi-year contract with Corteva Agriscience, an agriculture innovator with the world’s largest portfolio of seed, crop protection and digital solutions. XPO provides Corteva with truck brokerage and less-than-truckload services, among others.

The contract extends XPO’s existing support of Corteva’s seed distribution network and expands the scope of services for crop protection products. The two companies have partnered since Corteva’s 2019 separation from DowDuPont, an XPO customer for 20 years.

“We thank Corteva for entrusting us with an expanded role in their supply chain,” said Drew Wilkerson, president, transportation – North America, XPO Logistics. “Our team is excited to realize new efficiencies for Corteva as we manage more of their freight movements on our digital transportation platform.”

John Hong, regional leader, North America logistics procurement and trade governance, Corteva, said, “XPO’s knowledge of our industry and their ability to access capacity have served us well since the beginning of our collaboration. We have the support of XPO’s extensive scale and technology as we execute our growth plans.”

XPO’s transportation capabilities in North America have been honored for excellence by prominent customers, such as Owens Corning, General Motors, Drive DeVilbiss Healthcare, Ford Motor Company and Whirlpool Corporation.

About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,629 locations and more than 100,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO's corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Media Contact
XPO Logistics, Inc.
Joe Checkler
+1-203-423-2098
joe.checkler@xpo.com

FAQ

What new contract did XPO Logistics secure in January 2021?

XPO Logistics secured a multi-year contract with Corteva Agriscience.

What services will XPO provide to Corteva Agriscience?

XPO will provide truck brokerage and less-than-truckload services.

When did XPO and Corteva start their partnership?

XPO and Corteva began their partnership after Corteva's separation from DowDuPont in 2019.

What is the significance of XPO's contract with Corteva Agriscience?

The contract extends XPO's role in Corteva's supply chain and supports its seed distribution and crop protection.

How does XPO's contract with Corteva affect XPO's stock?

The contract is expected to enhance XPO's operational efficiency and potentially positively impact its stock performance.