MIAMI, FL, Apr 07, 2010 (MARKETWIRE via COMTEX) --Ryder System, Inc. (NYSE: R), a global leader in transportation and supply chain management solutions, today announced that the San Bernardino Associated Governments (SANBAG) Board has selected Ryder as its fleet partner in a groundbreaking heavy-duty natural gas truck rental and leasing project in Southern California. Ryder will use $19.3 million in state and federal American Recovery and Reinvestment Act of 2009 (ARRA) funding secured by SANBAG to implement the project. This is the first time that natural gas trucks will be deployed into a large commercial truck rental and leasing operation.
As part of the project, Ryder will purchase more than 200 heavy-duty natural gas powered trucks. Both liquefied and compressed natural gas (LNG and CNG) on-board fuel storage systems will be used depending upon the specific type of truck purchased and the anticipated application. These ultra low-emission trucks will be deployed into Ryder's Southern California operations network, where Ryder's customers will be able to access them through short-term rentals, long-term leases, or through Ryder's dedicated logistics services. To support these trucks, Ryder will construct new natural gas refueling stations within the region and work with its customers to identify and utilize the existing natural gas refueling infrastructure already located throughout Southern California. As part of Ryder's core product offering, the Company will maintain the vehicles at three of its strategically located maintenance shops in Orange, Rancho Dominguez, and Rancho Cucamonga. Each maintenance facility will be properly equipped for the indoor repair of natural gas vehicles. In addition to reducing emissions, with natural gas fuel prices significantly and consistently lower than diesel fuel, Ryder customers who incorporate natural gas vehicles in their fleet have the opportunity to realize additional cost savings.
"Ryder has a longstanding commitment to industry-leading sustainable business practices that improve transportation efficiencies. We were one of the first national fleets to introduce low-emission and fuel-efficient technologies to the truck rental and leasing industry through the launch of our RydeGreen(SM) line of tractors, trailers, and hybrid straight trucks," stated Tony Tegnelia, President of Global Fleet Management Solutions for Ryder. "This SANBAG-sponsored project represents a tremendous opportunity to expand our RydeGreen program to include natural gas vehicles and introduce our 1,200 commercial customers in the region to a new innovative, efficient, and environmentally-sound fleet solution. Our intent is to use this project as a model that we can replicate in other parts of the U.S. where Ryder has a strong presence."
When fully implemented, this project will replace more than 1.51 million gallons of diesel use annually with 100% domestically produced low-carbon liquefied and compressed natural gas. According to SANBAG, preliminary project estimates and analyses indicate the project will contribute to the maintenance and creation of more than 400 U.S. green automotive jobs located in regions of the country that have been the hardest hit from the current economic downturn. Based on estimates using California's Carl Moyer program guidelines, the project is also estimated to reduce more than 9.2 million pounds (4,195 metric tons) of greenhouse gas emissions per year, more than 131 tons of nitrogen oxide emissions annually and completely eliminate 2.65 tons of diesel particulate emissions from local neighborhoods.
"We are extremely pleased to partner with Ryder on this cutting-edge project and to work collaboratively to reduce diesel emissions and improve air quality in the region," commented Paul Eaton, SANBAG Board President and the Mayor from the City of Montclair.
About SANBAG
SANBAG is the council of governments and transportation planning agency for San Bernardino County. SANBAG is responsible for cooperative regional planning and furthering an efficient multi-modal transportation system countywide. SANBAG serves the two million residents of San Bernardino County. SANBAG supports freeway construction projects, regional and local road improvements, commuter rail and bus transit, freeway service patrol, ridesharing and congestion management efforts. SANBAG administers Measure I, the half-cent transportation sales tax approved by county voters in 1989 and again in 2004. For more information on SANBAG, visit
www.sanbag.ca.gov 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 399th on the FORTUNE 500(R). 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, 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.
For Information Contact:
Cindy Haas
(305) 500-4526
Email Contact
David Bruce
(305) 500-4999
Email Contact
SOURCE: Ryder System, Inc.