Ryder Acquires Metro Truck & Tractor Leasing, Expanding Its Fleet Management Solutions Footprint in the Baltimore Metro Area
June 18 2018 - 4:30PM
Business Wire
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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version on businesswire.com: https://www.businesswire.com/news/home/20180618005833/en/
Ryder System, Inc.Media:Claudia Panfil, 305-500-3668orInvestor
RelationsBob Brunn, 305-500-4210
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