- CEVA Enhances Its Fleet to Include Over 1,000 Full Service Lease
Trailers to Support its CEVA Ground and Freight Management Businesses
Across North America -
MIAMI--(BUSINESS WIRE)--
Ryder System, Inc. (NYSE:R), a leader in commercial transportation and
supply chain management solutions, today announced that it has expanded
its full service lease contract with CEVA Logistics, one of the world’s
leading supply chain companies, adding over 1,000 trailers to support
its domestic U.S. ground business, including the company’s CEVA Ground
and Freight Management businesses.
“We’ve been working with Ryder for more than 30 years and their
continued loyalty, geographic coverage and operational flexibility have
given us the confidence to sign on to this substantial order,” said Jim
Krepp, CEVA’s Vice President of Procurement in the Americas. “This
significant upgrade to our fleet provides our customers with
state-of-the-art equipment and is a testament to our growing presence in
North America.”
CEVA, a leading freight manager in North America, offers Full and Less
than Truckload (FTL and LTL) transportation along with dedicated fleet
services, intermodal marketing and full transportation brokerage
services. With a total fleet now numbering almost 4,700 trailers
supporting its North American business in approximately 200 locations,
CEVA’s trucking operations and driver recruitment programs continue to
grow in markets across the continent.
Ryder’s full service leasing relationship with CEVA started nearly 30
years ago, and has grown to over 200 power units. This year, CEVA
renewed its contract and expanded the fleet with Ryder to include 1,044
additional trailers for a total of more than 1,244 vehicles under lease
with Ryder. Under the 10-year contract, Ryder will provide a dedicated
fleet coordinator who will use a GPS product to oversee the movement of
the trailers. The fleet will be serviced via mobile maintenance at each
of CEVA’s seven major hubs in North America.
This is also a major milestone for Utility Trailer because the 1,044
units placed for their model 4000D-X Composite™ is their
largest single order, as well as the largest lease account trailer order
Ryder has ever placed.
According to Mike Ashe, Manager of National Accounts at Utility Trailer
Manufacturing, “We are extremely excited that Ryder and CEVA have chosen
Utility to provide them with their 1,044 trailers. Early on in this
process, both Ryder and CEVA determined that the 4000D-X Composite’s
superior strength and durability and its innovative composite sidewall
was the best trailer for them due to its low tare weight and lower
operating costs. This order supports the trend that the 4000D-X
Composite is the fastest growing model in our history and why it has
become a leader in the thin-wall trailer market.”
Robert Sanchez, Ryder’s President of Global Fleet Management Solutions
said, “Ryder values its relationship with CEVA and is pleased to support
the fleet requirements of such a highly respected company. We look
forward to providing viable options for them now and into the future to
support their growth.”
Ryder’s Fleet Management Solutions business segment provides full
service leasing, rental and programmed maintenance of trucks, tractors,
and trailers to commercial customers. Ryder provides full service lease
for more than 15,000 customers in the U.S. and Canada, and manages a
fleet of 185,000 vehicles.
About CEVA
CEVA Logistics, one of the world’s leading supply chain companies,
designs and implements industry leading solutions for large and
medium-size national and multinational companies. Approximately 50,000
employees are dedicated to delivering effective and robust supply chain
solutions across a variety of sectors and CEVA applies its operational
expertise to provide best-in-class services across its integrated
network, with a presence in over 170 countries. For the year ending 31
December 2010, the Group reported revenues of €6.8 billion. For more
information, please visit www.cevalogistics.com.
About Utility Trailer Manufacturing Company
Utility Trailer Manufacturing is America's oldest privately owned,
family-operated trailer manufacturer. Founded in 1914, the company
designs and manufactures dry freight vans, flatbeds, refrigerated vans,
curtain-sided trailers, and side skirts. Utility currently operates five
trailer manufacturing facilities across the United States. Utility’s
3000R® and the 3000R® multi-temp refrigerated
trailers are manufactured at the Marion, Virginia and Clearfield, Utah
plants. The 4000D® and 4000D-X Composite™ dry vans
are manufactured at the Glade Spring, Virginia and Paragould, Arkansas
plants. The 4000A®, 4000S®, drop deck and double
flatbeds as well as the Tautliner® curtainsided trailers are
all manufactured at the Enterprise, Alabama facility. Utility also has
an extensive independent dealer network with 105 locations throughout
the United States, Canada, Mexico, and South America.
About Ryder
Ryder is a FORTUNE 500® commercial transportation, logistics
and supply chain management solutions company. Ryder’s stock is a
component of the Dow Jones Transportation Average and the Standard &
Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder
as the top third party logistics provider and included Ryder in its 2010
“50 Green Partners” listing. Ryder also ranked 114 out of the top 500
U.S. companies and sixth in its industry sector in the 2010 Newsweek
Green Rankings. In addition, Security magazine has named Ryder
one of the top companies for security practices in the transportation,
logistics, supply chain, and warehousing sector. Ryder is a proud member
of the American Red Cross Annual Disaster Giving Program, supporting
national and local disaster preparedness and response efforts. For more
information on Ryder System, Inc., visit www.ryder.com.
SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These
statements include, but are not limited to, discussions regarding
industry outlook, the Company’s expectations regarding the performance
of its business, its liquidity and capital resources, its guidance for
2011 and the other non-historical statements. These statements can be
identified by the use of words such as “believes” “anticipates,”
“expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,”
“projects,” “forecasts,” and similar expressions. All forward-looking
statements are based on management’s current expectations and beliefs
only as of the date of this press release and, in addition to the
assumptions specifically mentioned in the above paragraphs, there are a
number of factors that could cause actual results and developments to
differ materially from those expressed or implied by these
forward-looking statements, including the effect of local and national
economic, credit and capital market conditions, a downturn in the
industries in which we operate (including the automotive industry and
the airfreight business), risks associated with the Company’s global
operations, fluctuations and increases in fuel prices, the Company’s
substantial indebtedness, restrictions contained in its debt agreements
and risks that it will be unable to compete effectively. Further
information concerning the Company and its business, including factors
that potentially could materially affect the Company’s financial
results, is contained in the Company’s annual and quarterly reports,
available on the Company’s website, which investors are strongly
encouraged to review. Should one or more of these risks or uncertainties
materialize or the consequences of such a development worsen, or should
underlying assumptions prove incorrect, actual outcomes may vary
materially from those forecasted or expected. CEVA disclaims any
intention or obligation to update publicly or revise such statements,
whether as a result of new information, future events or otherwise.
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.
Source: Ryder System, Inc.