MIAMI, July 14 /PRNewswire-FirstCall/ -- Ryder System, Inc. (NYSE: R), a
global leader in supply chain, warehousing and transportation solutions, today
announced that Whirlpool Corporation (NYSE: WHR), the world's leading
manufacturer and marketer of major home appliances, has extended its contract
with Ryder for parts warehousing and distribution for two additional years.
The extended agreement will run through July 31, 2008.
"Ryder continues to be an integral part of our team and works closely with
us as we address our strategic initiatives of improving customer service,
driving process efficiencies and lowering total costs," said Jim Packer,
National Director of Parts Operations, Whirlpool Corporation. "The decision
to renew the contract was based on Ryder's demonstrated ability to continually
drive process improvements throughout our operations in Plainfield."
Ryder manages Whirlpool's appliance service parts packaging and
distribution operations at an 800,000 square-foot facility in Plainfield, Ind.
Ryder provides order fulfillment and worldwide distribution of Whirlpool's
service parts across six continents to end consumers, authorized repair
centers and independent parts distributors that support service companies and
technicians. Ryder has packaged more than 58 million pieces as well as
shipped over 72 million parts to Whirlpool customers worldwide since the
original agreement was signed in 2001.
"We are delighted to be continuing our relationship with Whirlpool and we
are gratified that we have helped to simplify their parts operations and
improve responsiveness in serving their trade partners and consumers," said
Ryder President of U.S. Supply Chain Solutions Tony Tegnelia.
About Whirlpool Corporation
Whirlpool Corporation is the world's leading manufacturer and marketer of
major home appliances, with annual sales of over $13 billion, 68,000
employees, and nearly 50 manufacturing and technology research centers around
the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht,
Consul and other major brand names to consumers in more than 170 countries.
About Ryder
Ryder is a Fortune 500 company providing leading-edge transportation,
logistics and supply chain management solutions worldwide. Ryder's stock
(NYSE: R) is a component of the Dow Jones Transportation Average and the
Standard & Poor's 500 Index. For more information about Ryder System, Inc.,
visit http://www.ryder.com .
Note Regarding Forward-Looking Statements: Certain statements and
information included in this presentation are "forward-looking statements"
under the Federal Private Securities Litigation Reform Act of 1995.
Accordingly, these forward-looking statements should be evaluated with
consideration given to the many risks and uncertainties inherent in our
business that could cause actual results and events to differ materially from
those in the forward-looking statements. Important factors that could cause
such differences include, among others, our ability to obtain adequate profit
margins for our services, our inability to maintain current pricing levels due
to customer acceptance or competition, customer retention levels, the
possibility that changes in customers' business environments will limit their
ability to commit to long-term vehicle leases, changes in market conditions
affecting the commercial rental market or the sale of used vehicles, higher
borrowing costs and possible decreases in available funding sources caused by
adverse changes in debt ratings, resolution of the tax audits described in our
filings with the SEC and the amount and timing of any payments required to be
made by the Company in connection therewith, changes in accounting
assumptions, adequacy of accounting accruals, changes in general economic
conditions, availability of heavy- and medium-duty vehicles, increases in fuel
prices, availability of qualified drivers, the Company's ability to create
operating synergies in connection with its acquisitions of Ruan and General,
and changes in government regulations, including regulations regarding vehicle
emissions, drivers' hours of service and security regulations issued by the
Department of Homeland Security. The risks included here are not exhaustive.
New risks emerge from time to time and it is not possible for management to
predict all such risk factors or to assess the impact of such risks on the
Company's business. Accordingly, the Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events, or otherwise.
SOURCE Ryder System, Inc.
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Related links:
http://www.ryder.com
CONTACT:
Lisa Brumfield, +1-305-500-3668, or
Lisa_Brumfield@Ryder.com, or Edward Rifenburg, +1-305-500-4161,
or Edward_Rifenburg@Ryder.com, both of Ryder
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