Corporate News Blog - Ryder Completes the Acquisition of Dallas Service Center to Expand Fleet Maintenance Network
LONDON, UK / ACCESSWIRE / October 13, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Ryder System, Inc. (NYSE: R), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=R. The Company announced on October 11, 2017, that it has completed the acquisition of all outstanding equity of Dallas Service Center, Inc. (DSC). For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Details of the Acquisition
- The acquired location by Ryder consists of a 5.87-acre property and 34,000 square feet of facilities, including 31 commercial vehicle maintenance bays, two paint booths, and two wash bays.
- The transaction was completed on September 29, 2017, and is expected to be nominally accretive to the Company's earnings this year.
- Ryder will operate the business under the name Ryder Dallas Service Center.
- The Company will maintain its current service offering and areas of focus. Ryder is also likely to retain the existing workforce of approximately 50 employees.
- Ryder assumes additional earnings in future years as a result of the synergies achieved by implementing best practices. The Company also anticipates improved productivity.
Acquisition Enables Ryder to Add New Services in Body Repair Work Area
Dennis Cooke, President of Global Fleet Management Solutions of Ryder, expressed his pleasure with the acquisition of DSC. He added that Ryder will operate the business as a key part of its West Region, expanding the capacity of its existing maintenance network while adding new services in the area of body repair work.
Ryder Partnered with Aperia Technologies to Introduce Automatic Tire Inflation Systems
As per the news release on September 27, 2017, Ryder signed an exclusive partnership with Aperia Technologies, the leading supplier of tire inflation solutions for tractors and trailers, in order to expand its commitment to innovative safety technologies.
The Halo Tire Inflator solution became the standard specification for Ryder's heavy duty commercial rental fleet as the Company responded to increasing demand from customers looking to improve fleet performance, safety, and driver job satisfaction. Additionally, Halo also became Ryder's preferred tire inflation solution for Ryder ChoiceLease customers.
About Ryder System, Inc.(NYSE: R)
Founded in 1933, Ryder System, Inc. provides transportation and supply chain management solutions to small businesses and large enterprises worldwide. The Company provides one of North America's largest fleet of trucks, an expansive infrastructure of maintenance facilities and warehouses. Headquartered in Miami, Florida, Ryder has been named among FORTUNE's World's Most Admired Companies.
About Dallas Service Center, Inc.
DSC is an independent truck repair facility offering a range of repair and maintenance services for vans, cabs, trailers, and trucks. The Company provides trailer repairing, truck painting and lift gate installation services. DSC is based in Dallas, Texas.
Last Close Stock Review
At the closing bell, on Thursday, October 12, 2017, Ryder System's stock slightly rose 0.53%, ending the trading session at $83.86. A total volume of 366.81 thousand shares have exchanged hands. The Company's stock price surged 14.02% in the last three months, 13.94% in the past six months, and 27.18% in the previous twelve months. Moreover, the stock rallied 12.65% since the start of the year. The stock is trading at a PE ratio of 20.00 and has a dividend yield of 2.19%. The stock currently has a market cap of $4.42 billion.
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