Ryder System, Inc. (NYSE: R), a global leader in supply chain,
warehousing and transportation management solutions, today announced
that Whirlpool Corporation (NYSE: WHR), the world's leading manufacturer
and marketer of major home appliances, is extending and expanding its
contract with Ryder for parts warehousing and distribution services for
six additional years. The extended contract will run through July 2014.
Under the expansion, Ryder will consolidate all service parts, creating
a single Whirlpool U.S. Parts Distribution Center. The transition is
expected to be completed by the end of the first quarter of 2008.
"Ryder's team has demonstrated its ability to continually drive process
improvements throughout our operations and is integral to our team and
future strategic initiatives," said Jim Packer, Director of Parts
Operations, Whirlpool Corporation. "The decision to create a single
Parts Distribution Center will further optimize costs and distribution
to trade customers, authorized Parts Distributors, and our international
customers."
Ryder manages appliance service parts packaging and distribution
operations at an 805,000 square-foot facility in Plainfield, Ind. Ryder
provides order fulfillment and worldwide distribution of Whirlpool's
service parts across six continents to end consumers, authorized repair
centers, and independent parts distributors that support service
companies and technicians. Ryder has packaged more than 116 million
pieces as well as shipped over 122 million parts to Whirlpool customers
worldwide since the original agreement was signed in 2001.
"We are honored to build on our successful relationship with Whirlpool,"
said Ryder President of U.S. Supply Chain Solutions Vicki O'Meara. "We
look forward to continuing our collaborative partnership as we work to
help simplify their parts operations and improve responsiveness in
serving their trade partners and consumers."
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer
of major home appliances, with annual sales of approximately $18
billion, more than 73,000 employees, and more than 70 manufacturing and
technology research centers around the world. The company markets
Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Bauknecht and
other major brand names to consumers in nearly every country around the
world. Additional information about the company can be found at http://www.whirlpoolcorp.com.
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. 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
Edward Rifenburg, 305-500-4161