Ryder Brings Sustainable Delivery Fleet to M&B Products
MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, announced today that it has signed a natural gas vehicle (NGV) lease contract with its new customer in Florida, M&B Products, a state-of-the-art eco-friendly dairy farm. M&B has signed a full service lease agreement with Ryder for three compressed natural gas (CNG) heavy duty vehicles. The new CNG trucks will be maintained by Ryder at its Tampa, Fla. service facility located at 4015 N 40th Street, which is already engineered to meet the unique maintenance compliance requirements for natural gas.
Adding natural gas heavy duty trucks to our delivery fleet aligns with our efforts to raise the bar on eco-friendly farming
M&B produces, manufactures, and packages fruit juices, milk, yogurt, and water in a variety of packages including cartons, cups, and pouches under an assortment of brand names. The company will use the new CNG vehicles to support its distribution fleet that services distributors in the South Florida region from Tampa to Miami.
Adding natural gas heavy duty trucks to our delivery fleet aligns with our efforts to raise the bar on eco-friendly farming, said M&B Products Transportation Consultant, Mike McGucken. We are proud to work with Ryder to bring this cleaner technology into our business, so we can not only run an efficient and environmentally-sound dairy, but also be a good neighbor and corporate citizen. M&B continuously looks for ways to reduce their carbon footprint.
Through a full service lease, Ryder acquires vehicles according to the customer s specifications and provides financing, maintenance, and fleet support services. It also manages vehicle disposal to protect customers from residual risk.
By leasing natural gas vehicles from Ryder, companies like M&B Products can realize the cost-saving and environmental benefits of the new technology, with less risk and capital outlay, said Ryder President of Global Fleet Management Solutions, Dennis Cooke. Ryder s natural gas vehicle operating experience and maintenance expertise gives M&B the confidence they need to keep their fleet up and running, and reinforces their reputation as a company that is always striving to improve.
The natural gas vehicles are being made available through M&B Product s participation in the Natural Gas Fuel Fleet Vehicle Rebate Program, funded by the Florida Department of Agriculture and Consumer Services. The Natural Gas Fuel Fleet Vehicle Rebate provides eligible applicants a rebate worth up to $25,000 on each vehicle for the cost of conversion or the incremental cost incurred by an applicant in connection with the conversion, purchase, or lease for a minimum term of five years.
Ryder is the leader in natural gas vehicles solutions for the commercial transportation industry, with more than 30 million miles of experience, 17 NGV maintenance facilities, and more than 2,200 NGV trained technicians. Ryder has initiated deployment of natural gas vehicles into the fleets of Ryder customers in Arizona, Arkansas, California, Georgia, Louisiana, Maryland, Michigan, New York, Texas, Utah, and Quebec, Canada. The Company operates Liquefied to Compressed Natural Gas (LCNG) fuel stations at its Fontana and Orange, Calif., service locations. Ryder partners with several premier natural gas fuel providers to help customers identify convenient fueling locations that support their delivery routes.
Ryder offers a full menu of transportation and logistics solutions for thousands of companies in the food and beverage industry. The Company serves the top 10 food & beverage companies in the country, with source to shelf solutions, including contract packing and labeling, distribution and inventory management, safety, sustainability, and dedicated transportation. With Ryder as a trusted partner, companies can access Ryder s vast network of vehicles, maintenance facilities with expert refrigeration technicians, and temperature-controlled warehousing space, along with the latest in tracking technologies and best-in-class safety processes.
Ryder is a FORTUNE 500 commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor s 500 Index. The Company has been named among FORTUNE s World s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. Inbound Logistics magazine has included Ryder in its Green Partners listing for five years in a row. Ryder is a charter member of the NGV Fleet Forum and a member of the Department of Energy s National Clean Fleets partnership. Ryder is also a recipient of the 2011 NGV Achievement Award. A member of the American Red Cross Disaster Responder Program, Ryder is proud to support national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom, Facebook, LinkedIn, Twitter, and YouTube. Access Ryder s Corporate Sustainability Report here.
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.
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