Ryder Signs First New York-Based Natural Gas Lease Deal With Willow Run Foods
Ryder System, Inc. (NYSE:R), a leader in commercial transportation and supply chain management solutions, today announced that Willow Run Foods, Inc. (Willow Run Foods) has signed a Ryder Full Service Lease agreement for 15 heavy duty compressed natural gas (CNG) vehicles. The 63-year-old customized food distributor for regional and national chains throughout the northeast United States is Ryder’s first natural gas lease customer in New York. This natural gas vehicle project is expected to reduce greenhouse gas emissions by 500 tons annually and expected to save Willow Run Foods more than $100,000 annually through a reduction of 175,000 gallons of diesel fuel consumption.
“With several years of experience operating and maintaining natural gas vehicles, we are in a unique position to help businesses leverage our expertise by making alternative fuel vehicles available through our lease and rental arrangements,” said Ryder President of Global Fleet Management Solutions, Dennis Cooke. “We’ve seen great interest from our customers who want to take advantage of the environmental and cost benefits of natural gas vehicles. They know that partnering with Ryder is a low risk way to get started quickly and without a large capital investment.”
Willow Run Foods will take delivery of the 15 natural gas vehicles in October to replace 15 diesel-powered vehicles in their existing fleet. The 15 CNG vehicles will be used to make deliveries to several chain restaurants in New York City, Long Island and northern New Jersey. The natural gas vehicles were made available through funding assistance provided by the New York State Energy Research and Development Authority (NYSERDA) as part of the Willow Run Foods clean-energy project. Ryder and Willow Run Foods are working together to upgrade the customer’s existing On-Site maintenance facility to meet the unique requirements for servicing natural gas vehicles. The Ryder On-Site Fleet Maintenance solution brings Ryder’s state-of-the-art maintenance technology and expertise right to the customer’s location and gives all of the advantages of Ryder’s professionally managed vehicle maintenance with ease, convenience, and reliability.
“We are very excited to be leading the trucking industry by being the first company to use CNG trucks for regional deliveries in the Northeast, and so are our customers,” said Terry Wood, President and CEO of Willow Run Foods. “Along with our truck leasing and maintenance partner, Ryder, we are looking forward to a long and rewarding relationship with CNG trucks.”
Through a Full Service Lease, 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. Ryder also offers a Flex-to-Green Lease agreement on traditional diesel trucks to its customers, which features the same benefits of a Full Service Lease but with the added option to replace the diesel powered vehicles with natural gas vehicles after one year.
Ryder has deployed more than 300 CNG and Liquefied Natural Gas (LNG) vehicles with approximately 40 Ryder customers in California, Michigan, Arizona, and Louisiana. With this deal, Ryder now adds New York as its newest market with a natural gas vehicle offering. Ryder recently opened its first Liquefied to Compressed Natural Gas fuel stations in Orange and Fontana, Ca. For more information about how Ryder innovates for the environment, read its Corporate Sustainability Report.
Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Inbound Logistics magazine has included Ryder in its “Green Partners” listing for five years in a row, and Newsweek has included Ryder for three years in a row in its ranking of the top 500 green U.S. companies. Ryder is a charter member of the NGV Fleet Forum and a member of the Department of Energy’s National Clean Fleets partnership. Ryder is also a recipient of the 2011 NGV Achievement Award and has been recognized by the Carbon Disclosure Project (CDP) in the Carbon Disclosure Leadership Index. A member of the American Red Cross Annual Disaster Giving Program, Ryder is proud to support national and local disaster preparedness and response efforts. For more information, visit www.ryder.com and follow us on Facebook, YouTube, and Twitter.
About Willow Run Foods, Inc.
Willow Run Foods, Inc. is a distribution, logistics and food storage company located in Kirkwood, New York specializing in customized food distribution for regional and national chains throughout the Northeast. Willow Run Foods, Inc. has more than 350 employees in New York State.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.
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.
Copyright Business Wire 2013