Ryder System, Inc. Sells Brazilian Auto Hauling Business to Axis Group Affiliate
MIAMI--Jan. 31, 2001---Ryder Continues Providing Logistics and Supply Chain Management
Services in Brazil-
Ryder System, Inc. , a global leader in logistics and transportation management solutions, and Allied Holdings, Inc. announced today that a Brazilian affiliate (Axis Sinimbu Logistica Automotiva Ltda.) of Axis Group, Inc. (Axis), a wholly owned subsidiary of Allied Holdings, has purchased Translor Veiculos Ltda. from one of Ryder's Brazilian subsidiaries. Terms of the transaction were not disclosed.
"Exiting the auto hauling arena allows Ryder to focus and strengthen its logistics and supply chain solutions business in Brazil and align it with our global strategies," said Gregory T. Swienton, Ryder's president and chief executive officer. "Ryder is strongly committed to building its integrated logistics and supply chain capabilities in Latin America, providing our world-class services to both the global and local customers we serve in that region."
About Ryder Latin America
Ryder Latin America was launched in 1996 to serve the logistics and transportation needs of the automotive and consumer packaged goods industries. That year, a business presence was first established in Argentina and then Brazil. Through its own operations and strategic alliances with local companies, Ryder began offering just-in-time (JIT) delivery, transportation routing and scheduling, warehousing and yard management. The next year, Ryder Latin America received ISO 9000 certification for processes in-place in Brazil and services were expanded to include inventory management, customer order management, distribution and international logistics. By 1998, the Company expanded its work by adding key customers in the high-tech industry and received ISO 9000 certification for processes in-place in Argentina. Currently, Ryder Latin America maintains a fleet of nearly 1,000 vehicles and manages almost one million square meters of warehouse and staging area. Ryder Latin America serves an extensive list of globally recognized customers operating in the automotive, consumer packaged goods, electronics, high-tech and retail industries.
About Ryder System, Inc.
Ryder provides a continuum of 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, lead logistics management services and e-Commerce solutions that support customers' entire supply chains, from sourcing of inbound raw materials through distribution and delivery of finished goods. Ryder serves customer needs throughout North America, in Latin America, Europe and Asia.
Fortune magazine ranked Ryder as the most admired company in the highway transportation industry in 1997 and 1998 and second-most admired in 1999. In 2000, Ryder received a higher overall rating than its competitors in the Fortune survey. For the third consecutive year, Inbound Logistics magazine recognized Ryder in 2000 as the top third-party logistics provider.
Ryder's stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. With 1999 revenue of $5 billion, Ryder was ranked 309th on the Fortune 500 list and 332nd on the Forbes 500 in 2000.
For more information on Ryder System, Inc., visit www.ryder.com.