CITY OF INDUSTRY, Calif., June 20, 2011 – Utility Trailer Manufacturing Company, the industry’s largest manufacturer of refrigerated trailers and a leading manufacturer of dry freight vans, flatbeds, and Tautliner® curtainsided trailers is pleased to announce that it has received the largest single order for the 4000D-X Composite™ dry van from Ryder System, Inc.
Ryder System, Inc. (NYSE: R), a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company recently extended a full service lease contract with CEVA Logistics. Under the contract, Ryder purchased 1,044 Utility 4000D-X Composite dry vans to support CEVA’s domestic U.S. ground and freight management operations across North America. “We are extremely excited that Ryder and CEVA have selected Utility’s 4000D-X Composite dry van to support their expanding fleet needs,” said Mike Ashe, Manager of National Accounts from Utility. “Early on in this process, both Ryder and CEVA determined that the 4000D-X Composite’s durability and its innovative composite sidewall was the best trailer for them due to its low tare weight, superior strength, flexible load securement capability and lower operating costs. This order supports the trend that the 4000D-X Composite has become the fastest growing model in our history.”
The purchase is a major milestone for the 4000D-X Composite as the 1,044 trailers represents the single largest order for Utility’s dry van. It is also the largest lease account trailer order that Ryder has ever placed. Ryder’s Fleet Management Solutions provides full service lease, rental and programmed maintenance of trucks, tractors, and trailers and has again chosen Utility to support their trailer needs. “Ryder values its 30-year relationship with CEVA and we appreciate the confidence they have shown in our ability to meet their well respected service levels,” said Hal Sisco, Ryder’s Director of National Accounts. “We selected Utility to support CEVA’s continued growth because of the proven, high quality product that Utility provides.”
About Utility Trailer Manufacturing Company
Utility Trailer Manufacturing is America’s oldest privately owned, family-operated trailer manufacturer. Founded in 1914, the company designs and manufactures dry freight vans, flatbeds, refrigerated vans, curtain-sided trailers, and side skirts. Utility currently operates five trailer manufacturing facilities across the United States. Utility’s 3000R® and the 3000R® multi-temp refrigerated trailers are manufactured at the Marion, Virginia and Clearfield, Utah plants. The 4000D® and 4000D-X Composite™ dry vans are manufactured at the Glade Spring, Virginia and Paragould, Arkansas plants. The 4000A®, 4000S®, drop deck and double flatbeds as well as the Tautliner® are all manufactured at the Enterprise, Alabama facility. Utility also has an extensive independent dealer network with 105 locations throughout the United States, Canada, Mexico, and South America.
CEVA Logistics, one of the world’s leading supply chain companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 50,000 employees are dedicated to delivering effective and robust supply chain solutions across a variety of sectors and CEVA applies its operational expertise to provide best-in-class services across its integrated network, with a presence in over 170 countries. For the year ending 31 December 2010, the Group reported revenues of €6.8 billion. For more information, please visit www.cevalogistics.com.
Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company. Ryder’s stock (NYSE: R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder as the top third party logistics provider and Security magazine has named Ryder one of the top companies for security practices in the transportation, logistics, supply chain, and warehousing sector. Ryder is a proud member of the American Red Cross Annual Disaster Giving Program, supporting national and local disaster preparedness and response efforts. For more information on Ryder System, Inc., visit www.ryder.com.
SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company’s expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2011 and the other non-historical statements. These statements can be identified by the use of words such as “believes” “anticipates,” “expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,” “projects,” “forecasts,” and similar expressions. All forward-looking statements are based on management’s current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company’s global operations, fluctuations and increases in fuel prices, the Company’s substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s annual and quarterly reports, available on the Company’s website, which investors are strongly encouraged to review. Should one or more of these risks or uncertainties materialize or the consequences of such a development worsen, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.