Velox Transport Services Expands Leased Fleet with Ryder to Support Business Growth

Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, announced today that Velox Transport Services, LLC, a Miami-based independent carrier serving markets across the U.S., has expanded its fleet with 40 tractors and 40 refrigerated trailers (15 tractor trailers in Miami and 25 tractor trailers in Jacksonville) under a Full Service Lease agreement with Ryder. With a Full Service Lease (FSL), Ryder acquires vehicles according to the customer’s specifications, provides financing, maintenance, and fleet support services, and then manages vehicle disposal to protect customers from residual risk. Velox has been a Ryder customer since 2012. With the addition of the new tractors and trailers, Velox’s total lease fleet with Ryder consists of 226 pieces of equipment.

“Velox is in the business of transporting freight, which means we’re focused on maximizing profits in providing our clients with the best service possible—not on acquiring equipment, maintaining parts inventory, or contracting a network of roadside assistance,” said Rigo Diaz, Velox Co-Founder and President. “By outsourcing certain areas of the business to the right partner, we’ve been able to steer Velox in the right direction; we’ve definitely found that crucial partner in Ryder.”

The new vehicles are Cascadia® Evolution tractors from Freightliner®, which include advanced aerodynamic features like next-generation chassis fairings and side extenders, as well as a Detroit™ DD15® engine, engineered for increased performance and fuel efficiency. The tractor’s DT12 transmission improves average fuel economy through consistent shift points and appropriate gear selections. The vehicles are also equipped with RydeSmart®, Ryder’s full-featured GPS fleet location, tracking, and vehicle performance management system. RydeSmart enables customers to achieve a 10 to 15 percent reduction in fuel and CO2 consumption by monitoring idle time, speed, hard braking events, and other activities that impact fuel consumption. RydeSmart also facilitates regulatory compliance through paperless trip reporting for interstate fuel tax calculations and Department of Transportation Hours of Service eLogs, reports, alerts, and audits for drivers.

“Being a partner in Velox’s growth has been truly exciting,” said Dennis Cooke, President of Global Fleet Management Solutions for Ryder. “Just three years ago, they gave us the opportunity to offload the stress of managing and maintaining a fleet, and since then, they’ve experienced significant savings that have drastically improved their bottom line. Their consistent expansion is a testament to what Ryder’s services can do for businesses.”

To support Velox’s growth, Ryder expanded its maintenance footprint in the Miami market last year by adding a full-service maintenance facility to its local Used Truck Sales Center. The facility includes three service bays and provides Velox with access to a dedicated team of world-class technicians.

About Ryder

Ryder is a FORTUNE 500® commercial fleet management 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. Ryder 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. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting 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.

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.