MIAMI, FL -- 04/03/08 --
Ryder System, Inc. (NYSE: R), a global leader in
transportation and supply chain management solutions, today announced it
has been awarded a warehousing and distribution management contract with
Harman International Industries, a leading manufacturer of high-quality,
high fidelity audio products and electronic systems for the automotive,
consumer and professional markets.
"Our supply chain is a critical part of our commitment to bringing
innovative products to market faster and further increasing customer
service," said Lalit Panda, SVP of Supply Chain for Harman Consumer Group.
"Working with a proven logistics partner such as Ryder will help us to meet
these goals while focusing on our core competencies."
Under the multi-year contract, Ryder will manage two distribution centers
with a combined 600,000 square feet located in Southern California and the
Atlanta area. Ryder will support the distribution of Harman's Consumer and
Professional products as well as reverse logistics. Ryder's solution is
designed to optimize inventory levels, improve order accuracy and
efficiency, while providing consistent levels of customer service.
"For more than 50 years, Harman International has been a recognized
manufacturer of quality audio and visual systems, and Ryder is honored for
the opportunity to contribute to their future success," said Tom Jones, SVP
and General Manager of Supply Chain Solutions for Ryder.
About Harman International Industries
Harman International (www.harman.com) designs, manufactures and markets a
wide range of audio and infotainment products for the automotive, consumer
and professional markets. The Company maintains a strong presence in the
Americas, Europe and Asia and employs more than 11,000 people worldwide.
The Harman International family of brands spans some 15 leading names
including AKG, Audioaccess, Becker, BSS, Crown, dbx, DigiTech, DOD, Harman
Kardon, Infinity, JBL, Lexicon, Mark Levinson, Revel, QNX, Soundcraft and
Studer. The Company's stock is traded on the New York Stock Exchange under
the Symbol HAR.
About Ryder
Ryder provides leading-edge transportation, logistics and supply chain
management solutions worldwide. Ryder's stock (NYSE: R) is a component of
the Dow Jones Transportation Average and the Standard & Poor's 500 Index.
Ryder ranks 362nd on the FORTUNE 500® and 1,458th on the Forbes Global
2000. For more information on Ryder System, Inc., visit www.ryder.com.
Note Regarding Forward-Looking Statements: Certain statements and
information included in this news release are "forward-looking statements"
within the meaning of the Federal Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on our current plans
and expectations and are subject to risks, uncertainties and assumptions.
Accordingly, these forward-looking statements should be evaluated with
consideration given to the many risks and uncertainties that could cause
actual results and events to differ materially from those in the
forward-looking statements including those risks set forth in our periodic
filings with the Securities and Exchange Commission. New risks emerge from
time to time. It is not possible for management to predict all such risk
factors or to assess the impact of such risks on our business.
Accordingly, we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
For Information Contact:
Edward Rifenburg
(305) 500-4161
Email Contact
Lisa Brumfield Hagen
(305) 500-3668
Email Contact
