(Nashville, Tenn., 3-23-05) Bridgestone Firestone North American Tire, LLC (BFNT) and Ryder System, Inc. are extending their agreement – a successful collaboration that began in 1990. BFNT supplies Ryder’s new tire needs, while Bandag, Incorporated, the nation’s largest retreader, provides Ryder with retreading services.
“This contract extension is a result of a strong partnership that combines best practices to create a more streamlined, efficient and successful way of doing business,” said Timothy Fiore, Ryder’s senior vice president and chief procurement officer. “We look forward to an ongoing relationship with Bridgestone Firestone and Bandag that will continue to drive new efficiencies throughout our fleet.”
According to Ty Cross, vice president of maintenance for Ryder, “This is more than an agreement to purchase tires, but rather a quality solution that addresses the highly specific needs and demands of our transportation network while generating value for Ryder’s 15,000 customers.”
“We are pleased to announce the extension,” said Singh Ahluwalia, president, commercial products, truck and bus tires, BFNT. “This contract symbolizes a true collaboration wherein three companies, Bridgestone Firestone, Ryder and Bandag, utilize their strengths to deliver remarkable solutions for our customers. We look forward to reaching new benchmarks of innovation and quality service in the years to come.”
“Ryder is one of the most successful transportation, leasing and logistics companies in the world, and we at Bridgestone Firestone are privileged to help contribute to that success,” said Tom Rozuk, manager, national fleet sales, BFNT. “Our companies collaborate by putting solid teams together, using the best products to reduce operating costs and implementing efficiencies that benefit both organizations.
“This is why Bridgestone Firestone and Ryder are still working together after 15 years, and plan on continuing to do so,” continued Rozuk.
Bridgestone and Bandag dealers provide local Ryder facilities with just-in-time inventory, tire maintenance, wheel maintenance, retreading and emergency road services. Since 1990, Ryder has purchased over 4.9 million original equipment and replacement tires – that’s nearly 1,000 new Bridgestone tires every single day.
Nashville-based Bridgestone Firestone North American Tire, LLC (BFNT) is a subsidiary of Bridgestone Americas Holding, Inc., whose parent company, Bridgestone Corporation, is the world’s largest tire and rubber company. BFNT develops, manufactures and markets Bridgestone, Firestone, Dayton and associate and private brand tires. The company is focused on wholesale and original equipment markets, supplying passenger, light truck, commercial vehicle, off-road, motorcycle, agricultural and other tires to its customers in North America.
Ryder is a Fortune 500 company providing 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. For more information about Ryder System, Inc., visit www.www.ryder.com.
Bandag, Incorporated manufactures retreading materials and equipment for its worldwide network of more than 1,000 franchised dealers that produce and market retread tires and provide tire management services. Bandag’s traditional business serves end-users through a wide variety of products offered by dealers, ranging from tire retreading and repairing to tire management systems outsourcing for commercial truck fleets. Tire Distribution Systems, Inc. (TDS), a wholly-owned subsidiary, sells and services new and retread tires. In addition, Bandag has an 87.5% interest in Speedco, Inc., a provider of on-highway truck lubrication services to commercial truck owner-operators and fleets.
Note Regarding Forward-Looking Statements: Certain statements and information included in this presentation are “forward-looking statements” under the Federal Private Securities Litigation Reform Act of 1995. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those in the forward-looking statements. Important factors that could cause such differences include, among others, changes in our customers’ business environments, changes in general economic conditions, unanticipated technological difficulties, our ability to identify, implement and maintain operating synergies with Bridgestone and Bandag and other risks detailed in our SEC filings. The risks included here are not exhaustive. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on the Company’s business. Accordingly, the Company undertakes 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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