Ryder Expands Freight Brokerage Business to Build on 175% Year-Over-Year Growth

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With a recently opened business in Nashville, Tennessee, Ryder rolls out designs to increase its freight brokerage functions in crucial U.S. logistics hubs

MIAMI, June 16, 2022–(Enterprise WIRE)–Ryder Program, Inc. (NYSE: R), a chief in offer chain, focused transportation, and fleet management remedies, announces the growth of its freight brokerage enterprise with a new business in Nashville, Tennessee—a burgeoning U.S. logistics hub—followed by two further spots planned to open up in 2023. The growth is part of the company’s strategy to grow its broader transportation alternative, which features buyers adaptability with various degrees of company and ability, from freight brokerage to transportation administration and dedicated transportation.

This press launch attributes multimedia. Perspective the full launch listed here: https://www.businesswire.com/news/household/20220616005002/en/

Ryder announces designs to broaden its freight brokerage organization as aspect of its technique to increase its broader transportation alternative. (Image: Company Wire)

“In freight brokerage, we expert just about 175% advancement in gross profits in 2021 as as opposed to 2020. With market place fluctuations, sky-high transportation rates, a capability crunch, and a driver lack, shippers are turning to our logistics expertise, our asset-dependent methods, interactions with vetted carriers, and our shopping for electrical power to maintain their goods transferring,” claims Kevin Clonch, team director of transportation administration at Ryder. “By expanding our freight brokerage operations, we also bolster our broader transportation alternative, so we can supply our customers even more versatility with more lanes and tough-to-obtain capability in limited markets, so they can consider benefit of seasonal and marketplace-relevant volume surges.”

Ryder now has freight brokerage workplaces in Novi, Michigan and Fort Well worth, Texas, as nicely as the new Nashville place, which opened in April. The company selected Nashville for its 3rd locale dependent on the city’s expertise pool as a logistics hub and its means to draw extra talent as a place city.

“We want the best in the business—people who are industry experts in making use of technology to push method and generate additional price for clients although also quarterbacking the lifecycle of every load to ensure a sleek knowledge for equally customer and provider,” adds Clonch. “We concentrate on service, support, service. Because, even with the finest engineering and the finest laid programs, there will be occasions when clients and carriers have to have to choose up the phone—and we respond to 24/7/365.”

In addition to investing in folks, Ryder’s freight brokerage small business invests intensely in technologies that offer genuine-time visibility and collaboration electronic freight matching and backhaul options automatic load booking business enterprise intelligence and analytics applications that permit better long term determination making as well as building the payment cycle more quickly and easier for carriers.

Ryder’s freight brokerage division is part of its transportation management option, which purchases and/or executes $7.4 billion in freight moves on behalf of its shoppers every year.

“We do not transform back hundreds or make excuses. We discover smarter remedies. That’s our assure to our customers, and the enlargement of our freight brokerage business enterprise is part of that guarantee,” says Clonch.

About Ryder Technique, Inc.

Ryder Process, Inc. (NYSE: R) is a top logistics and transportation organization. It supplies supply chain, focused transportation, and fleet management answers, together with total services leasing, rental, and maintenance, employed car product sales, experienced motorists, transportation providers, freight brokerage, warehousing and distribution, e-commerce success, and last mile supply providers, to some of the world’s most-identified manufacturers. Ryder presents products and services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 239,000 professional vehicles and operates much more than 330 warehouses, encompassing much more than 80 million square toes. Ryder is on a regular basis acknowledged for its business-top procedures in 3rd-get together logistics, technology-driven improvements, industrial motor vehicle maintenance, environmentally friendly methods, company social responsibility, environment-class basic safety and stability applications, army veteran recruitment initiatives, and the selecting of a numerous workforce. www.ryder.com

Be aware Relating to Ahead-On the lookout Statements: Particular statements and data provided in this news release are “ahead-searching statements” inside of the that means of the Federal Private Securities Litigation Reform Act of 1995. These forward-seeking statements, which includes our anticipations with regard to increasing our transportation solutions company and the abilities of the technological innovation made use of in our freight brokerage business, are primarily based on our present-day ideas and anticipations and are topic to hazards, uncertainties and assumptions. Accordingly, these forward-searching statements ought to be evaluated with thing to consider specified to the several dangers and uncertainties that could result in true benefits and gatherings to differ materially from individuals in the ahead-wanting statements together with those hazards set forth in our periodic filings with the Securities and Exchange Commission. New dangers arise from time to time. It is not probable for administration to forecast all these kinds of possibility factors or to assess the effects of these kinds of dangers on our business enterprise. Accordingly, we undertake no obligation to publicly update or revise any forward-wanting statements, no matter if as a result of new details, long run events, or if not.

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Look at resource model on businesswire.com: https://www.businesswire.com/news/home/20220616005002/en/

Contacts

Anne Hendricks
(305) 500-4547
[email protected]

Amy Federman
(305) 500-4989
[email protected]

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