FOR IMMEDIATE RELEASE
Ryder Acquires New York-Based 4 G's Truck Leasing
MIAMI, March 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Ryder System, Inc. (NYSE: R), a global leader in transportation and supply chain management solutions, today announced it has acquired 4 G's Truck Renting Co., a privately owned local truck leasing and rental company located in Brooklyn, N.Y.
In the transaction, Ryder acquired 4 G's fleet of approximately 400 vehicles and 100 customers. Ryder will service the acquired customers from its existing branches in the Greater New York area, including its Long Island City (Queens) facility, thus leveraging its existing infrastructure.
"4 G's has been a well-managed company with a strong reputation in the New York City market," said Marc Thibeau, Vice President of Operations for Ryder's Northeast Region. "We are pleased to be able to add new customers to our existing locations, as well as provide them with the additional services and solutions for which Ryder is recognized in the industry."
"Ryder has been a reputable market leader for over 70 years supporting more than 15,000 customers globally," said Louis Silverman, owner of 4 G's. "Ryder will be able to provide 4 G's customers with new resources and increased product offerings including insurance, which will help customers grow in the competitive marketplace."
About Ryder
Ryder is a Fortune 500 company providing 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. For more information about Ryder System, Inc., visit http://www.ryder.com .
Note Regarding Forward-Looking Statements: Certain statements and information included in this presentation are "forward-looking statements" under the Federal Private Securities Litigation Reform Act of 1995. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those in the forward-looking statements. Important factors that could cause such differences include, among others, our ability to obtain adequate profit margins for our services, our inability to maintain current pricing levels due to customer acceptance or competition, customer retention levels, the possibility that changes in customers' business environments will limit their ability to commit to long-term vehicle leases, changes in market conditions affecting the commercial rental market or the sale of used vehicles, higher borrowing costs and possible decreases in available funding sources caused by adverse changes in debt ratings, changes in accounting assumptions, adequacy of accounting accruals, changes in general economic conditions, availability of heavy- and medium-duty vehicles, increases in fuel prices, availability of qualified drivers, the Company's ability to create operating synergies in connection with its acquisitions of Ruan and General, and changes in government regulations, including regulations regarding vehicle emissions, drivers' hours of service and security regulations issued by the Department of Homeland Security. The risks included here are not exhaustive. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on the Company's business. Accordingly, the Company undertakes 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.
Certain statements and information included in this presentation are "forward-looking statements" under the Federal Private Securities Litigation Reform Act of 1995. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those in the forward-looking statements. Important factors that could cause such differences include, among others, our ability to obtain adequate profit margins for our services, our inability to maintain current pricing levels due to customer acceptance or competition, customer retention levels, the possibility that changes in customers' business environments will limit their ability to commit to long-term vehicle leases, changes in market conditions affecting the commercial rental market or the sale of used vehicles, higher borrowing costs and possible decreases in available funding sources caused by adverse changes in debt ratings, resolution of the tax audits described in our filings with the SEC and the amount and timing of any payments required to be made by the Company in connection therewith, changes in accounting assumptions, adequacy of accounting accruals, changes in general economic conditions, availability of heavy- and medium-duty vehicles, increases in fuel prices, availability of qualified drivers, the Company's ability to create operating synergies in connection with its acquisitions of Ruan and General, and changes in government regulations, including regulations regarding vehicle emissions, drivers' hours of service and security regulations issued by the Department of Homeland Security. The risks included here are not exhaustive. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on the Company's business. Accordingly, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
For more information please contact us directly at RyderForInvestors@ryder.com