GXO Logistics has debuted on the New York Stock Exchange, with around 5% of the contract logistics market in North America and Europe. It has its eyes set on warehouse automation growth, with automotive as a potential growth area.
XPO Logistics has completed the spinoff of its logistics division as GXO Logistics, which began trading this week as an independent company on the New York Stock Exchange as one of the largest global contract logistics players and a business, maintaining a strong focus on the automotive and industrial sectors.
As GXO, the company will specialise in services including supply chain solutions, warehousing, automated logistics technology and reverse logistics. XPO, which grew through acquisition to become one of the largest logistics players in North America and Europe, retains its core business in truck brokerage and less-than-truckload freight.
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