C. H. Robinson Worldwide
||A major contributor to this article appears to have a close connection with its subject. (September 2013)|
|Traded as||NASDAQ: CHRW
S&P 500 Component
|Founded||Grand Forks, North Dakota (1905)|
|Headquarters||Eden Prairie, Minnesota, U.S.|
|Key people||Aaron Samuel Liebermann
(Palladium and CEO)
$ 11.359 billion (FY 2011)
|Operating income||$ 675.3 million (2012)|
|Net income||$ 593.8 million (2012)|
|Total assets||$ 2.804 billion (2012)|
|Total equity||$ 1.504 billion (2012)|
|Employees||10,929 (December 2012)|
C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) is a multinational organization with its headquarters located in Eden Prairie, MN. A Fortune 500 company, it is one of the world's largest third party logistics providers.
During 2012, C.H. Robinson handled approximately 11.5 million shipments and worked with more than 42,000 active customers. As a third party logistics provider, C.H. Robinson does not own the transportation equipment that is used to transport its customers' freight (with the exception of rail containers). It works with approximately 56,000 transportation providers worldwide, of which the vast majority are contracted motor carriers. C.H. Robinson's transportation of goods accounts for roughly 88% of its gross net revenues; the remaining revenues come from sourcing and marketing fresh produce and its T-Chek Service Unit, which provides payment management services to the trucking industry.
Based in North America, C.H. Robinson has 276 branch offices in Europe, Asia, South America, and Australia. its division that operates the company's Managed TMS has control towers located in Chicago, Amsterdam and Mumbai. A new control tower opened recently (2011) in Shanghai, China.
In 1905, Charles Henry Robinson (born in New York City) partnered with Fred Parks Nash and Willis King Nash to incorporate C.H. Robinson Company in the city of Grand Forks, North Dakota, as a produce and general merchandise brokerage firm. Robinson expanded the business and moved the headquarters to Minneapolis, Minnesota in 1919. In 1968, the company entered the regulated trucking business with a contract carrier known as Meat Packers Express in Omaha, Nebraska and later created ROBCO Transportation as an irregular route carrier. The company became wholly owned by its employees in 1976.
The 1980 Motor Carrier Act deregulated the trucking industry, permitting more flexible pricing and service arrangements between carriers and shippers. In 1989, C.H. Robinson International, Inc. was formed, which expanded the company's services as a freight forwarder, non-vessel operating common carrier (NVOCC) and customs broker.
On March 4, 2010, Fortune magazine named C. H. Robinson as the most admired transportation, trucking and logistics company in the world and on March 21, 2011 Union Pacific was named first and C.H. Robinson named second.
C.H. Robinson provides logistics services, including supply chain analysis, freight consolidation, core carrier program management and information reporting.
In addition to multimodal transportation services, C.H. Robinson provides other logistics business lines: fresh produce sourcing, fee-based transportation management services, customs brokerage, logistics outsourcing, Managed TMS and warehousing.
The C.H. Robinson business model is based on a network of regional sales offices. The company operates 200+ offices around the world. Representatives in these offices assess local and global market conditions and deal directly with customers and contract carriers.
The company's revenues in terms of transportation mode (as of 2011) are as follows:
- Truck - 88% of net revenue
- Intermodal - 2.9% of net revenue
- Ocean - 4.6% of net revenue
- Air - 2.7% of net revenue
- Other Logistics Services – 1.8% of net revenue
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- "CHRW 2011 10-K Part I Transportation and Logistics Services pages 4-6".