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

With a newly opened place of work in Nashville, Tennessee, Ryder rolls out options to broaden its freight brokerage operations in essential U.S. logistics hubs

MIAMI, June 16, 2022–(Enterprise WIRE)–Ryder Program, Inc. (NYSE: R), a chief in offer chain, devoted transportation, and fleet management options, announces the expansion of its freight brokerage enterprise with a new workplace in Nashville, Tennessee—a burgeoning U.S. logistics hub—followed by two more places prepared to open up in 2023. The expansion is section of the company’s method to develop its broader transportation solution, which presents customers overall flexibility with various degrees of assistance and ability, from freight brokerage to transportation administration and focused transportation.

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Ryder announces strategies to expand its freight brokerage company as element of its strategy to expand its broader transportation alternative. (Picture: Business enterprise Wire)

“In freight brokerage, we professional just over 175% expansion in gross revenue in 2021 as when compared to 2020. With marketplace fluctuations, sky-higher transportation rates, a potential crunch, and a driver scarcity, shippers are turning to our logistics know-how, our asset-centered methods, relationships with vetted carriers, and our buying electric power to continue to keep their merchandise moving,” states Kevin Clonch, team director of transportation management at Ryder. “By growing our freight brokerage functions, we also bolster our broader transportation alternative, so we can provide our buyers even much more adaptability with more lanes and tough-to-find capability in restricted markets, so they can take edge of seasonal and marketplace-relevant volume surges.”

Ryder now has freight brokerage offices in Novi, Michigan and Fort Well worth, Texas, as effectively as the new Nashville spot, which opened in April. The enterprise selected Nashville for its 3rd locale based on the city’s talent pool as a logistics hub and its ability to attract supplemental talent as a spot city.

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“We want the best in the business—people who are authorities in using know-how to push method and create included worth for consumers whilst also quarterbacking the lifecycle of every load to make sure a smooth practical experience for equally buyer and carrier,” provides Clonch. “We aim on company, provider, service. For the reason that, even with the finest technological innovation and the most effective laid designs, there will be periods when clients and carriers will need to pick up the phone—and we response 24/7/365.”

In addition to investing in people, Ryder’s freight brokerage small business invests heavily in technologies that present authentic-time visibility and collaboration electronic freight matching and backhaul chances automated load reserving enterprise intelligence and analytics tools that enable superior foreseeable future final decision making as effectively as creating the payment cycle more quickly and less difficult for carriers.

Ryder’s freight brokerage division is component of its transportation management remedy, which purchases and/or executes $7.4 billion in freight moves on behalf of its customers each year.

“We do not transform again hundreds or make excuses. We locate smarter alternatives. Which is our guarantee to our clients, and the expansion of our freight brokerage company is component of that assure,” states Clonch.

About Ryder Program, Inc.

Ryder Method, Inc. (NYSE: R) is a primary logistics and transportation organization. It gives supply chain, devoted transportation, and fleet management methods, which include entire services leasing, rental, and maintenance, utilised car or truck revenue, qualified drivers, transportation products and services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and final mile shipping and delivery companies, to some of the world’s most-recognized manufacturers. Ryder presents expert services during the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages approximately 239,000 business cars and operates a lot more than 330 warehouses, encompassing additional than 80 million square ft. Ryder is often acknowledged for its sector-foremost techniques in 3rd-celebration logistics, technology-pushed innovations, professional motor vehicle servicing, environmentally pleasant methods, company social obligation, entire world-course basic safety and security packages, military services veteran recruitment initiatives, and the choosing of a various workforce. www.ryder.com

Be aware With regards to Forward-Searching Statements: Specified statements and information and facts provided in this news launch are “forward-seeking statements” in the that means of the Federal Private Securities Litigation Reform Act of 1995. These forward-hunting statements, together with our anticipations with regard to expanding our transportation options company and the capabilities of the engineering used in our freight brokerage company, are based on our present-day programs and anticipations and are subject matter to challenges, uncertainties and assumptions. Appropriately, these forward-on the lookout statements really should be evaluated with thought specified to the a lot of challenges and uncertainties that could cause genuine results and situations to vary materially from individuals in the ahead-seeking statements including all those challenges established forth in our periodic filings with the Securities and Exchange Fee. New dangers arise from time to time. It is not possible for administration to predict all these danger factors or to evaluate the affect of this kind of dangers on our company. Appropriately, we undertake no obligation to publicly update or revise any forward-looking statements, regardless of whether as a consequence of new details, future functions, or normally.

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Contacts

Anne Hendricks
(305) 500-4547
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Amy Federman
(305) 500-4989
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