MIAMI--(BUSINESS WIRE)--
Ryder
System, Inc. (NYSE: R), a leader in commercial
fleet management, dedicated
transportation, and supply
chain solutions, announced today that Velox
Transport Services, LLC, a Miami-based independent carrier serving
markets across the U.S., has expanded its fleet with 40 tractors and 40
refrigerated trailers (15 tractor trailers in Miami and 25 tractor
trailers in Jacksonville) 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 226 pieces of equipment.
“Velox is in the business of transporting freight, which means we’re
focused on maximizing profits in providing our clients with the best
service possible—not on acquiring equipment, maintaining parts
inventory, or contracting a network of roadside assistance,” said Rigo
Diaz, Velox Co-Founder and President. “By outsourcing certain areas of
the business to the right partner, we’ve been able to steer Velox in the
right direction; we’ve definitely found that crucial partner in Ryder.”
The new vehicles are Cascadia® Evolution tractors from Freightliner®,
which include advanced aerodynamic features like next-generation chassis
fairings and side extenders, as well as a Detroit™ DD15® engine,
engineered for increased performance and fuel efficiency. The tractor’s
DT12 transmission improves average fuel economy through consistent shift
points and appropriate gear selections. The vehicles are also 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.
“Being a partner in Velox’s growth has been truly exciting,” said Dennis
Cooke, President of Global Fleet Management Solutions for Ryder. “Just
three years ago, they gave us the opportunity to offload the stress of
managing and maintaining a fleet, and since then, they’ve experienced
significant savings that have drastically improved their bottom line.
Their consistent expansion is a testament to what Ryder’s services can
do for businesses.”
To support Velox’s growth, Ryder expanded its maintenance footprint in
the Miami market last year by adding a full-service maintenance facility
to its local Used Truck Sales Center. The facility includes three
service bays and provides Velox with access to a dedicated team of
world-class technicians.
About Ryder
Ryder is a FORTUNE 500® commercial fleet management and supply chain
solutions company. Ryder’s stock (NYSE:R) is a component of the Dow
Jones Transportation Average and the Standard & Poor’s 500 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,
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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.