MIAMI, FL, Jul 19, 2007 (MARKET WIRE via COMTEX News Network) -- 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.
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Lisa Brumfield Hagen
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Edward Rifenburg
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