Ryder to Acquire Ruan, General Truck Leasing Firms
Ryder System Inc., Miami, Fla., has announced it intends to purchase Ruan Leasing Co., a major privately owned truck leasing, rental and contract maintenance company headquartered in Des Moines, Iowa
Ryder System Inc., Miami, Fla., has announced it intends to purchase Ruan Leasing Co., a major privately owned truck leasing, rental and contract maintenance company headquartered in Des Moines, Iowa.
In addition, Ryder said it has reached an agreement to acquire General Car and Truck Leasing System, a commercial truck leasing, maintenance and rental company with headquarters in Davenport, Iowa.
Ruan has a fleet of nearly 6,800 vehicles and an additional 4,800 units under contract maintenance agreements, serving more than 550 customers in the U.S. The transaction with Ruan is expected to close by the end of the first quarter of 2004.
Ryder will acquire General's fleet of more than 4,000 vehicles and 700 customers by the end of this year. The combined network will operate under the Ryder name, complementing Ryder's United States market coverage and service network with expanded capabilities in the Midwest and Southeast.
For more information, visit www.ryder.com .
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