Ryder to Provide Distribution, Transportation Management and Real-Time
Tracking of up to 60,000,000 Pallets Annually
ORLANDO, Fla., Aug. 9 /PRNewswire-FirstCall/ -- Intelligent Global
Pooling Systems (iGPS Company LLC), operator of the world's first
RFID-tagged all- plastic pallet pool, today announced that it has selected
Ryder System, Inc. (NYSE: R), a global leader in supply chain, warehousing
and transportation management solutions, as its supply chain logistics
partner.
"At iGPS, we partner with best-of-breed providers, and Ryder's world
class infrastructure, sophisticated carrier management information system
and knowledge of logistics and transportation solutions will drive
improvements and transportation efficiencies throughout the supply chain
while ensuring quality customer service," said Bob Moore, Chief Executive
Officer of iGPS. "Solidifying this long-term relationship ensures that our
logistics operations are handled by experts who are committed to providing
our customers with the timely and efficient delivery of pallets to meet
their supply chain needs. This class of capability did not exist just a few
years ago."
Under the contract, Ryder will provide distribution and RFID (radio
frequency identification) tracking for as many as 60,000,000 pallets
annually to iGPS customers throughout North America. Ryder will develop and
manage a Web-enabled transportation and procurement solution based on iGPS'
business parameters to optimize the inbound and outbound network of
transportation carriers supporting the Company's North American operations.
Additionally, Ryder will provide on-site management, procurement of
transportation, routing instructions, compliance management and freight
bill audit and payment.
"The industrial sector has been asking for a more cost-effective pallet
option for tracking and shipping," said Vicki O'Meara, President of Ryder
U.S. Supply Chain Solutions. "Ryder is thrilled to have this opportunity to
work with industry veterans Bob Moore and Rex Lowe to help lead this
innovative shift from wood to plastic throughout the global supply chain.
We are confident that our experience with logistics and RFID technology
will add value to the iGPS operations and we look forward to a long and
prosperous partnership with Bob and his team."
iGPS is spearheading a paradigm shift in the pallet-rental business
from wood and other materials to uniform plastic pallets with RFID tracking
capabilities. Powerful advantages exist for virtually all industries, such
as beverage, consumer electronics, grocery/consumer packaged goods, home
improvement/do-it-yourself, pharmaceutical, produce/meat and raw
ingredients. The advantages of iGPS pallets include their greater
durability; consistent size, shape and quality; lighter weight; superior
hygiene and traceability.
Additionally, the shift from wood to plastic pallets is environmentally
responsible. iGPS plastic pallets are 100 percent recyclable and, because
they are 30 percent lighter than pallets made of wood, could remove several
billion pounds of non-value freight from the shipping and supply chain
infrastructure, resulting in huge potential fuel savings.
About iGPS
Headquartered in Orlando, Florida, with operations in Dallas, Texas,
iGPS (http://www.igps-usa.com) is the first company to provide manufacturers and
retailers with an RFID-tagged all-plastic pallet pool. Launched in March
2006, the company is led by industry veteran Bob Moore, chief executive
officer, and an executive team with over 60 years of combined experience in
pallet rental, logistics and supply-chain management.
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 press release 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, unexpected volume declines, loss of key customers in the
Supply Chain Solutions (SCS) business segment, our failure to successfully
implement new sales growth initiatives in our FMS business segment,
unexpected reserves or write-offs due to the deterioration of the credit
worthiness or bankruptcy of certain customers in our SCS business segment,
changes in financial, tax or regulatory requirements or changes in
customers' business environments that 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, the effect of severe
weather events, labor strikes or work stoppages affecting our or our
customers' business operations, adequacy of accounting estimates and
accruals particularly with respect to pension, taxes and revenue, changes
in general economic conditions, sudden changes in fuel prices, availability
of qualified drivers, our ability to manage our cost structure, changes in
government regulations including regulations regarding vehicle emissions
and the risks described in our filings with the Securities and Exchange
Commission. 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 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.
SOURCE Ryder System, Inc.
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Related links:
http://www.ryder.com
http://www.igps-usa.com
CONTACT:
Sean Dougherty, +1-201-964-2390, or
sdougherty@mww.com, for iGPS; or 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
System
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