Executive Briefings

Ryder to Acquire Scully Companies, Carmenita Leasing

Ryder System Inc. has announced a pair of acquisitions in California. The company said it has reached agreement to purchase the full-service lease, contract maintenance, commercial rental and dedicated contract carriage businesses of The Scully Companies Inc. Headquartered in Fontana, Calif., Scully has been in business for 29 years. Assets to be acquired include some 1,800 full-service lease units and 300 rental vehicles. The company serves approximately 200 contract customers from six service facilities in California and Arizona. The acquisition is due to be finalized in January and is subject to closing conditions. Ryder is also acquiring the full-service leasing and rental business of Carmenita Leasing, Inc., based in Santa Fe Springs, Calif. Ryder will take on Carmenita's truck fleet of 189 full-service lease and rental units, serving some 58 contract customers. The deal is scheduled to be finalized on or around Jan. 7, 2011, again subject to closing conditions. In another company announcement, Ryder has opened a new commercial truck service facility and used vehicle sales center in Kapolei, Hawaii. The 30,000-square-foot facility will provide maintenance to Ryder's fleet of commercial trucks under lease, rental and contract maintenance arrangements. The location will feature six repair bays, a minor repairs lane and preventive maintenance area.

Scully Companies: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1508848&highlight=

Carmenita Leasing: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1509558&highlight=

Hawaii Facility: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1509132&highlight=

Ryder System Inc. has announced a pair of acquisitions in California. The company said it has reached agreement to purchase the full-service lease, contract maintenance, commercial rental and dedicated contract carriage businesses of The Scully Companies Inc. Headquartered in Fontana, Calif., Scully has been in business for 29 years. Assets to be acquired include some 1,800 full-service lease units and 300 rental vehicles. The company serves approximately 200 contract customers from six service facilities in California and Arizona. The acquisition is due to be finalized in January and is subject to closing conditions. Ryder is also acquiring the full-service leasing and rental business of Carmenita Leasing, Inc., based in Santa Fe Springs, Calif. Ryder will take on Carmenita's truck fleet of 189 full-service lease and rental units, serving some 58 contract customers. The deal is scheduled to be finalized on or around Jan. 7, 2011, again subject to closing conditions. In another company announcement, Ryder has opened a new commercial truck service facility and used vehicle sales center in Kapolei, Hawaii. The 30,000-square-foot facility will provide maintenance to Ryder's fleet of commercial trucks under lease, rental and contract maintenance arrangements. The location will feature six repair bays, a minor repairs lane and preventive maintenance area.

Scully Companies: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1508848&highlight=

Carmenita Leasing: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1509558&highlight=

Hawaii Facility: http://investors.ryder.com/phoenix.zhtml?c=108468&p=irol-newsArticle&ID=1509132&highlight=