MIAMI--(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.
