Ryder Acquires Commercial Truck Leasing, Rental and Maintenance Portfolio of B.I.T. Leasing

Ryder System, Inc. R today announced it has completed the acquisition of the lease, rental and maintenance portfolio of B.I.T. Leasing Inc.. The acquisition was completed in two phases; the first phase completed in August 2010 and the final phase completed in March 2011. The acquisition is expected to add approximately $9 million in annualized operating revenue to Ryder's Fleet Management Solutions business segment and be accretive to earnings in 2011. Ryder anticipates additional earnings in future years due to synergies and operational improvement within the combined organizations.