Ryder System, Inc. has acquired all the assets of Pollock NationaLease, a privately-owned full service truck leasing companies based in Strathroy, Ontario.
Per the terms of the transaction, Ryder Canada, a transportation and supply chain management solutions company, will acquire Pollock's fleet of more than 2,000 vehicles and over 187 contract customers served by the Ontario locations of Sarnia, Windsor, London, Baden, and Milton, as well as the New Brunswick location of Moncton. The combined network will operate under the Ryder name, complementing Ryder Canada's market coverage and service network.
"Pollock NationaLease is a well known and respected name in Canada's transportation industry with an outstanding reputation of delivering high levels of customer service," said Ryder Chairman and CEO Greg Swienton. "This acquisition allows us to expand our Canadian network, establish a footprint in the Milton area of Greater Toronto, and continue to build on the strong foundation of quality service and best practices to further our value to customers of both companies."
The acquisition is expected to be finalized in October 2007. Completion of the acquisition is subject to customary conditions, including the receipt of applicable regulatory approvals.
"Ryder has always been a high quality competitor for us in Canada and we are confident that the combined companies will further strengthen the quality of service we provide to our customers, as well as offer even more choices of transportation and logistics solutions for them," says Jim Pollock, Chairman of Pollock NationaLease.
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