Ryder and Taiwan Officials Agree to Co-Develop Plan for an Asian Aerospace Maintenance, Repair and Overhaul and Aerospace Logistics Support Center

    MIAMI--March 1, 2002--

    - Center to Serve Maintenance, Logistics Coordination and Supply
    Chain Management Needs of Airlines, Manufacturers and Related
    Service Providers in Asia-Pacific Region -

    At a signing ceremony held this week at the Asian Aerospace 2002 air show in Singapore, representatives of Ryder System, Inc. , a global leader in logistics, supply chain and transportation management solutions, and the Industrial Development Bureau (IDB) of the Republic of China (Taiwan) Ministry of Economic Affairs signed a memorandum of understanding (MOU) pledging mutual cooperation and support for the establishment of an Asian Aerospace Maintenance, Repair and Overhaul (MRO) Center and Aerospace Logistics Support Center complex in Taiwan. The proposed project is intended to serve as a receiving, storage and shipment complex for aerospace-related parts and components used in Taiwan's MRO Center and distributed to aerospace-related customers throughout the Asia-Pacific region.
    Signing the MOU on behalf of the IDB was Dr. David R.C. Chu, Director of the IDB's Committee for Aviation & Space Industry Development (CASID). Signing on behalf of Ryder was Willy Lai, the Company's Vice President & Managing Director for the Asia-Pacific region, who is based in Singapore. Representatives of Lockheed Martin were on hand to witness the signing.
    "This will be the first logistics center specialized in the aerospace field within the Asia-Pacific region," said Dr. Chu. "Based on Taiwan's solid manufacturing base, our strategy is to combine the local manufacturing industry with a value-added aerospace service industry and turn Taiwan into a maintenance, repair and overhaul and logistics center. This also echoes the `Global Logistics Center' policy of our government. With the advantages of outstanding workforce quality, geographic location, sound IT infrastructure and shared culture with mainland China, Taiwan is well positioned to attract Ryder and develop aerospace logistics with the local industry. Taiwan's advantages, plus Ryder's global logistics network, will provide the best opportunities for future entry into major Asia-Pacific markets."
    According to Lai, the members of Ryder's Aerospace Supply Chain Solutions management team possess more than two decades of experience in military and civil aviation and aerospace logistical systems support, with capabilities in material management, warehouse and distribution management and ground fleet maintenance. Ryder presently serves globally recognized customers including British Airways, Northrop Grumman and United Technologies.

    About Ryder

    Ryder provides leading-edge logistics, supply chain and transportation management solutions worldwide. Ryder's product offerings range from full-service leasing, commercial rental and programmed maintenance of vehicles to integrated services such as dedicated contract carriage and carrier management. Additionally, Ryder offers comprehensive supply chain solutions, consulting, lead logistics management services and e-Business solutions that support customers' entire supply chains, from inbound raw materials and parts through distribution and delivery of finished goods. Ryder serves customer needs throughout North America, in Latin America, Europe and Asia.
    For the fifth consecutive year, Ryder was featured in the 2001 Fortune Most Admired Companies survey of corporate reputations and has ranked among the top five in its industry category since 1997. Forbes named Ryder to its "Magnetic 40" as "Best in Transportation and Logistics" for creating a "network of partnerships that can spur growth, innovation and most important, serve customers better." InternetWeek named Ryder as one of the top 100 U.S. companies for effectiveness in using the Internet to achieve tangible business benefits. For the fourth consecutive year, Inbound Logistics recognized Ryder in 2001 as the top third-party logistics provider. The National Safety Council selected Ryder to receive the 2002 Green Cross for Safety Medal - its highest honor - for exemplary commitment to workplace safety and corporate citizenship.
    Ryder's stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Ryder's revenue in 2001 was $5.01 billion.
    For more information on Ryder System, Inc., visit http://www.ryder.com.

Want more information? Search the web!

Search The Auto Channel!

Search 1,043,125 pages