Ryder System makes a new logistics acquisition

Filed in archive merger and acquisition on December 27, 2008

Ryder System, Inc., a supply chain, warehousing and transportation management solutions provider, announced last week that it has completed the previously announced acquisition of substantially all the assets of Transpacific Container Terminal Ltd. (TCTL) and CRSA Logistics Ltd. (CRSA) in Canada, as well as CRSA Logistics operations in Hong Kong and Shanghai, China.

According to CNN Money, the companies will now operate as Ryder Transpacific Container Terminal and Ryder CRSA Logistics, respectively. The acquisition is expected to add more than $25 million Canadian dollars, or more than $20 million U.S. dollars in annualized revenue to Ryder's Supply Chain Solutions business unit.

"Consistent with Ryder's recently announced strategy, this acquisition will help bolster Ryder's geographic presence in Canada and Asia, while also adding quality retail customers and complementary solutions to our established portfolio of supply chain services," said Ryder Chairman and CEO, Greg Swienton. "We are pleased to further develop our Asia-related capabilities to strengthen our role as a facilitator of transpacific commerce and production between companies and resources in the North America and Asia regions."