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Ryder Acquires Metro Truck & Tractor Leasing, Expanding Its Fleet Management Solutions Footprint in the Baltimore Metro Area

Ryder System, Inc. (NYSE: R), a leader in commercial fleet
management, dedicated
transportation, and supply
chain solutions, today announced it has completed the acquisition of
all outstanding equity of Metro Truck & Tractor Leasing (Metro). Ryder
will now operate Metro’s two Maryland facilities in Beltsville and
Baltimore, which provide truck leasing, rental, and maintenance services
to more than 150 customers with a fleet of approximately 900 units. As
part of this acquisition, Ryder purchased mobile maintenance vehicles
that will provide maintenance services to customers in and around
Baltimore and Washington, D.C. With Ryder Mobile
Maintenance, Ryder goes to the customer, wherever they may be, with
fully-equipped vehicles that provide customized maintenance to ensure
fleet uptime.

The acquisition, completed on June 15, 2018, is expected to be slightly
accretive to earnings this year. Ryder anticipates additional earnings
improvement in future years due to synergies and operational
improvements within the combined companies, as well as from growth
opportunities with Metro’s current customers and prospects in the
Maryland market.

“This acquisition enables Ryder to support a growing market, where there
is increasingly high demand for fleet management services,” said Dennis
Cooke, President of Fleet Management Solutions, Ryder. “Customers who
are transitioning to Ryder will now have the ability to leverage Ryder’s
trusted network of more than 800 service locations and 5,900 trained
technicians across the country.”

These two facilities provide strategic additions to Ryder’s network and
will support business in the growing Baltimore/Washington markets.

Ryder will operate four maintenance bays and a fuel island with two
10,000-gallon fuel tanks at the Beltsville facility – located at
6730 Industrial Dr. Beltsville, MD 20705. The Baltimore shop, located at
911 West Patapsco Ave Baltimore, MD 21230, is equipped with five
maintenance bays and a fuel island that supports two 15,000-gallon fuel
tanks. Both locations will operate from 6 a.m. to 11 p.m. Monday through
Friday, and from 6 a.m. to 4:30 p.m. on Saturday, offering Ryder’s full
portfolio of Fleet Management Solutions, including Ryder ChoiceLease™,
Ryder SelectCare™, truck rental, and fuel services.

Ryder is committed to the quality maintenance of its fleet of more than
240,000 total vehicles and to ensuring its customers receive
unparalleled customer service. To learn more about Ryder Fleet
Management Solutions, visit https://ryder.com/solutions/fleet-leasing.

About Ryder

Ryder is a FORTUNE 500® commercial fleet management, dedicated
transportation, and supply chain solutions company. Ryder’s stock
(NYSE:R) is a component of the Dow Jones Transportation Average and the
S&P MidCap 400® index. Ryder has been named among FORTUNE’s
World’s Most Admired Companies, and has been recognized for its
industry-leading practices in third-party logistics,
environmentally-friendly fleet and supply chain solutions, and
world-class safety and security programs. The Company is a proud member
of the American Red Cross Disaster Responder Program, supporting
national and local disaster preparedness and response efforts. For more
information, visit www.ryder.com,
and follow us on our Online
Newsroom and social media pages: Facebook,
LinkedIn,
Twitter,
and YouTube.

Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are
“forward-looking statements” within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on our current plans and expectations and are
subject to risks, uncertainties and assumptions. Accordingly,
these forward-looking statements should be evaluated with consideration
given to the many risks and uncertainties that could cause actual
results and events to differ materially from those in the
forward-looking statements including those risks set forth in our
periodic filings with the Securities and Exchange Commission. New
risks emerge from time to time. It is not possible for management
to predict all such risk factors or to assess the impact of such risks
on our business. Accordingly, we undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.

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