Pending regulatory approvals, the acquisition is expected to be complete early in January 2001.
The acquisition of Comcar Leasing adds 800 tractors and 1,365 trailers
to Penske Truck Leasing's fleet. Comcar Leasing serves more than 80 contract customers through eight locations in Florida and Georgia.
"Comcar Leasing is well established in Florida and this purchase will enhance Penske's position in that market," said Wayne Angelbeck, vice president of business development for Penske Truck Leasing.
Comcar Leasing is a wholly owned subsidiary of Comcar Industries, a leading provider of trucking services headquartered in Auburndale, Fla. Comcar Industries officials say the sale will allow them to focus on their core business.