Wincanton has renewed its contract with fuel refiner and producer Valero for a further five years, marking a 35-year partnership between the two companies.
The extended contract will see Wincanton manage transportation from Valero’s network of terminals to more than 800 Texaco and Valero branded sites.
Wincanton will also continue to be responsible for the delivery of Valero ethanol fuels across the country, as well as aviation fuel to East Midlands Airport.
Carl Hanson, Wincanton MD of transport, commented: “We’re delighted that Wincanton will continue to work with Valero.
“Underpinned by great service and flexibility, the new contract will mark 35 years between the two parties.”
This is Wincanton’s latest win and closely follows the announcement of a five-year extension of the haulier’s contract with the Co-op and a two-year home delivery deal with Sofa.com.
In April this year Wincanton was bought by US supply chain management behemoth GXO for £760m.
Following the sale, Wincanton revealed an annual pre-tax loss of £44.9m in its annual results for the year to 31 March 2024. Despite only a slight dip in turnover to £1.4bn (2023: £1.46bn) the group made a pre-tax loss of £44.9m compared to a pre-tax profit of £38.2m in the previous year.
Wincanton attributed the profit slump to costs related to its acquisition by GXO and the impairment of Cygnia, the group’s e-fulfilment and two-person home delivery service, which was hit by “macro-economic headwinds” and the loss of a key home delivery customer, as well as “onerous” contract provisions relating to the customer loss.
