Ryder System, Inc. (NYSE: R), a global leader in transportation and
supply chain management solutions, today announced it has reached
agreement to acquire substantially all the assets of Pollock
NationaLease, one of Canada's largest privately-owned full service truck
leasing companies based in Strathroy, Ontario.
Per the terms of the transaction, Ryder Canada will acquire Pollock's
fleet of more than 2,000 vehicles and over 187 contract customers served
by the Ontario locations of Sarnia, Windsor, London, Baden, and Milton,
as well as the New Brunswick location of Moncton. The combined network
will operate under the Ryder name, complementing Ryder Canada's market
coverage and service network.
"Pollock NationaLease is a well known and respected name in Canada's
transportation industry with an outstanding reputation of delivering
high levels of customer service," said Ryder Chairman and CEO Greg
Swienton. "This acquisition allows us to expand our Canadian network,
establish a footprint in the Milton area of Greater Toronto, and
continue to build on the strong foundation of quality service and best
practices to further our value to customers of both companies."
The acquisition is expected to be finalized in October 2007. Completion
of the acquisition is subject to customary conditions, including the
receipt of applicable regulatory approvals.
"Ryder has always been a high quality competitor for us in Canada and we
are confident that the combined companies will further strengthen the
quality of service we provide to our customers, as well as offer even
more choices of transportation and logistics solutions for them," said
Jim Pollock, Chairman of Pollock NationaLease.
About Pollock NationaLease
Pollock NationaLease provides full-maintenance leasing and rental of
trucks and trailers to transportation, manufacturing, and service
industries. It is one of the largest privately-owned Canadian
full-service truck leasing company in Canada with a fleet of 2,000
trucks and trailers and locations serving Ontario from Windsor to
Toronto and Moncton, New Brunswick.
About Ryder
Ryder provides leading-edge transportation, logistics and supply chain
management solutions worldwide. Ryder's stock (NYSE: R) is a component
of the Dow Jones Transportation Average and the Standard & Poor's 500
Index. Ryder ranks 362nd on the Fortune 500 and 1,458th on the Forbes
Global 2000. For more information on Ryder System, Inc., visit www.ryder.com.
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, including, without limitation, statements
concerning the terms and timing of the acquisition and statements
concerning integration plans, customers and services. 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.
Ryder System, Inc.
Lisa Brumfield Hagen, 305-500-3668
or
David Bruce, 305-500-4999