In March of this year, XPO Logistics announced its intention to separate the LTL parts delivery service from digital in transit. The latter activity will include last mile services including, freight forwarding. Then the company was informed that the separation of the two activities and the creation of new companies will take place in 2022. IV. a fourth.
At the same time, the company reported the possibility of selling the multimedia business in North America and liquidating and selling the European business. The North American multimedia business was sold for $710 million at the end of March.
Most likely, the successful deal moved XPP’s management to consider selling the freight management business rather than separating it and keeping it in a separate company.
XPO does not disclose its separate financial results in connection with its freight management activities. In the first quarter, Freight Management and Freight Regulatory Operations generated $551 million in revenue for offshore companies.
In 2021, XPO Logistics divested its logistics operations. The new company will operate under the name GXO.
