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:
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on R. Go directly to your stock of interest and access today's free coverage at:
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.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
© 2017 Accesswire. All Rights Reserved.