MIAMI--(BUSINESS WIRE)--
Ryder
System, Inc. (NYSE: R), a leader in commercial
transportation and supply
chain management solutions, announced today that Velox
Transport, Inc., a Miami-based independent carrier serving Florida,
Oregon, Washington, and California, has expanded its fleet with 25
fuel-efficient Freightliner® Cascadia Evolution tractors and 25
refrigerated trailers under a Full Service Lease agreement with Ryder.
With a Full
Service Lease (FSL), Ryder acquires vehicles according to the
customer’s specifications, provides financing, maintenance and fleet
support services, and then manages vehicle disposal to protect customers
from residual risk. Velox has been a Ryder customer since 2012. With the
addition of the new tractors and trailers, Velox’s total lease fleet
with Ryder consists of 179 pieces of equipment.
“A Full Service Lease with Ryder gives us predictable maintenance and
operating costs, so we can better forecast for business growth,” said
Rigo Diaz, Velox Co-Founder and President. “In addition, we have access
to Ryder’s expert maintenance network, along with the latest vehicle
technologies and support services to ensure fleet compliance. This gives
us the confidence to guarantee our growing customer base on-time
delivery of their time-sensitive perishable products, including fruits,
flowers, and produce. With Ryder as our fleet partner, we’ve been able
to secure new business and will be opening three additional satellite
terminal locations in Jacksonville, Savannah, and Los Angeles,” shared
Mr. Diaz.
The new vehicles are equipped with RydeSmart®,
Ryder’s full-featured GPS fleet location, tracking, and vehicle
performance management system. RydeSmart enables customers to achieve a
10 to 15 percent reduction in fuel and CO2 consumption by monitoring
idle time, speed, hard braking events, and other activities that impact
fuel consumption. RydeSmart also facilitates regulatory compliance
through paperless trip reporting for interstate fuel tax calculations
and Department of Transportation Hours of Service eLogs, reports,
alerts, and audits for drivers.
To support Velox’s growth, Ryder will be expanding its maintenance
footprint in the Miami market by adding a full-service maintenance
facility to its local Used Truck Sales Center. The facility will include
three service bays and provide Velox with access to a dedicated team of
world-class technicians.
“As vehicle technologies and trucking regulations become increasingly
complex, it is more challenging for companies to manage and maintain
their own fleets,” said Dennis Cooke, President of Global Fleet
Management Solutions for Ryder. “Working with Ryder, companies like
Velox can maximize fleet uptime, free up working capital, lower
operating costs, and focus on growing their own core business.”
About Ryder
Ryder is a FORTUNE 500® commercial transportation, logistics and supply
chain management solutions company. Ryder’s stock (NYSE:R) is a
component of the Dow Jones Transportation Average and the Standard &
Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder
as a top third party logistics provider and green supply chain partner.
Ryder has also been ranked three years in a row as one of the top 250
U.S. companies in the 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, visit www.ryder.com
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and Twitter.
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.