MIAMI, DECEMBER 6, 2000 - Ryder System, Inc. (NYSE:R), the global leader in logistics and transportation management solutions, announced today that pFreight™ , an Internet-based transportation marketplace primarily funded by Ryder, has signed agreements with The Internet Truckstop (ITS) and ProMiles® Software Development Corporation.
The Internet Truckstop provides load-matching, routing and bid-posting services via the Internet for the trucking industry. Its huge database, which is supplied by truckers, trucking companies, brokers, shippers, freight forwarders and logistics companies, provides information updated daily on available trucks, loads and routes with auto-matching capabilities for pFreight subscribers. The ITS system scans the database hourly for loads and equipment and notifies the shipper or carrier of a possible match, which can minimize the number of unpaid miles for drivers by generating additional freight to their planned itinerary.
The ProMiles Mileage Guide is a full-featured online desktop mileage and fuel optimization guide for drivers. It provides pFreight subscribers with a comprehensive guide for planning trips in advance with customized itineraries, calculating fuel taxes, best routes and creating maps of trips indicating best fuel optimization locations throughout the U.S. and Canada.
"Internet services for trucking started with basic load-matching and have progressed to a full-service program for drivers," said Kim Fricke, vice president of Sales and Marketing for pFreight. "Our vision is to work with The Internet Truckstop and Promiles and for pFreight to create the next step in the evolution of Internet-assisted trucking. These two recognized industry leaders provide the cornerstone of data required for the broad-based administrative service functions pFreight is offering."
pFreight is an extension of Ryder's transportation service offerings and a key addition to its strategic e-Commerce platform of solutions and technologies geared to the transportation and logistics markets. Sandy Orr, vice president of e-Commerce for Ryder, said "With more than 10,000 drivers, Ryder understands the value pFreight services bring to the industry."
Tony Stroncheck, president of ProMiles stated, "Our partnership with pFreight allows the information generated at ProMiles to take on a whole new purpose. Combined with state-of-the-art in-cab communications equipment and track and trace capabilities, we're creating advanced features that will feed fuel tax calculators for automated fuel tax filings and simple-to-use online driver logs, all helping take the paperwork burden off drivers so that they can concentrate on the road.
pFreight provides individual drivers and small fleet owners the tools needed to compete against larger companies in the industry. According to Scott Moscrip, pFreight's president, "The partnerships with Truckstop and ProMiles reflect pFreight's commitment to bringing together the 'best of the best' to deliver the most comprehensive service package ever developed for drivers."
pFreight™ , www.pfreight.com, one of Ryder's strategic investments in e-Commerce, was founded to implement the next step in the evolution of trucking on the Internet. pFreight combines the expertise of a group of the industry's top service providers in a single interface to create the most comprehensive suite of tools available to individual drivers, fleets and shippers. The strategic alliances developed at pFreight enable each partner to concentrate on its core competency. This creates efficiencies that lower costs and give the customer access to companies with proven records of service and performance. The sharing of information also enables pFreight to create new value-added services that were previously unavailable.
ProMiles® Software Development Corporation (www.promiles.com) offers leading software and Internet-based solutions for the transportation industry. ProMiles is the designer of North America's largest mileage, routing, mapping and fuel tax database solution.
The Internet Truckstop (www.truckstop.com) was the first freight posting service on the Internet. Leading the way in innovation and services, Truckstop offers one of the largest databases with the most advanced search capabilities available.
Ryder provides a continuum of leading-edge logistics, supply chain and transportation management solutions worldwide. Ryder's product offerings range from full-service leasing, commercial rental and programmed maintenance of vehicles to integrated services such as dedicated contract carriage and carrier management. Additionally, Ryder offers comprehensive supply chain solutions, lead logistics management services and e-Commerce solutions that support customers' entire supply chains, from sourcing of inbound raw materials through distribution and delivery of finished goods. Ryder serves customer needs throughout North America, in Latin America, Europe and Asia.
Fortune magazine ranked Ryder as the most admired company in the highway transportation industry in 1997 and 1998 and second-most admired in 1999. In 2000, Ryder received a higher overall rating than its competitors in the Fortune survey. For the third consecutive year, Inbound Logistics magazine recognized Ryder in 2000 as the top third-party logistics provider. Ryder's stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. With 1999 revenue of $5 billion, Ryder is ranked 309th on the Fortune 500 list and 332nd on the Forbes 500 in 2000.
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