SOURCE: Ryder System, Inc.

Ryder System, Inc.

February 28, 2010 19:00 ET

Ryder and Cargo Services Far East Limited Enter Strategic Partnership

Ryder's New Offering to Provide Retailers With Source-to-Store Logistics Capabilities Between Asia and North America

MIAMI, FL--(Marketwire - February 28, 2010) - Ryder System, Inc. (NYSE: R), a leader in transportation and supply chain management solutions, today announced it has signed a joint venture (JV) partnership with Cargo Services Far East Limited (CSFE), an Asia-based logistics solutions provider specializing in export consolidation services.

The combined strengths of the companies will create a comprehensive, end-to-end service offering, with full geographic coverage throughout Asia, for North American retailers and other companies importing from Asia. 

"This partnership gives us an extensive network throughout Asia and builds on our purchase order management and export consolidation capabilities to deliver seamless international solutions to the retail marketplace," said Ryder's President of Global Supply Chain Solutions, John Williford. "The partnership applies our strengths in operational execution, engineering and information technology to enable us to help retailers and other U.S. importers design, plan and manage their product flows from factories in Asia to retail stores across North America."

Operating as Ryder Supply Chain Solutions Asia, the solution will provide Vendor and Purchase Order Management, Inland Transport Services, Export Consolidation and Order Fulfillment Services, including Distribution Center Bypass and Store-Ready Pallet Construction from Asia to North America. It builds upon Ryder's recent acquisition of CRSA Logistics, which manages transpacific end-to-end transportation management and supply chain services for Canadian retailers, including consolidation services in key Asian hubs and deconsolidation operations in Canada. 

Mr. John Lau, Group Managing Director of CSFE, stated, "We entered into this partnership with Ryder because they are a well respected, Fortune 500 company with more than 30 years of supply chain expertise. Together, we can leverage each other's logistics capabilities and expertise to offer a better solution to retailers and traders of consumer products. Users of these services require a personalized and attentive international supply chain for the execution of their purchase orders placed in China and the rest of Asia and the movement of their products to destinations in North America." 

About Cargo Services Far East
CSFE is an ISO9001:2000 certified, leading provider of Asia-based origin services for major retailers in Australia and the UK. The company was started in 1990 by John Lau. CSFE provides a range of services that include: export consolidation; order management; as well as a wide range of forwarding services integrated by technology. For the second consecutive year, CSFE was named the best supply chain supplier for Myer, Australia's largest department store. 

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 399th on the Fortune 500. For more information on Ryder System, Inc., visit

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.

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