Management & Operations

Ryder/ATE To Be Sold

Posted on June 29, 1999

Ryder has placed Ryder/ATE up for sale. Ryder/ATE consists of ATE (transit contracting and management) and MLS (contract municipal fleet maintenance). ATE generated $275 million in contracting revenue alone last year. Ryder Student Transportation (which is involved in the school bus contract services market) is not part of the sale. Ryder decided to do this after a detailed analysis of the company by Morgan Stanley Dean Witter (MSDW). While the transit division is profitable, MSDW thought that Wall Street wasn’t giving Ryder credit in its stock price for the profitability of this division, and suggested that Ryder sell it. While no bidders have been named, the acquisition market for transit contractors has been particularly active of late, especially fueled by the British-based multinational, multimodal operators National Express and Stagecoach Holdings Plc. In a letter to clients which was obtained by Transit-Center.com, Ryder/ATE President John Dorr explained: “To enable Ryder to focus on its core integrated businesses, the decision was made to separate those businesses not integral to Ryder’s refined business strategy. Therefore, the decision was made to seek a buyer for Ryder/ATE, Inc. This decision is part of Ryder’s overall strategy to affirm its position as a leading provider of global third party logistics, truck leasing and rental, and student transportation services....”

View comments or post a comment on this story. (0 Comments)

More News

Toronto Transit Commission wins APTA's top transit agency award

Named Outstanding Public Transportation System for 2017, the TTC last won the award in 1986.

Amtrak names new president/CEO

To ensure a smooth transition, Richard Anderson will serve in a co-CEO capacity with current CEO Wick Moorman through Dec. 31, 2017, at which time Moorman will become an advisor to the company.

Lhota named chairman of N.Y. MTA

Lhota previously served as the chairman of the board and CEO of the MTA.

Stantec to aquire RNL Design

Large-scale projects in the RNL’s portfolio include the Research Support Facility at the National Renewable Energy Lab in Golden, Colo. — the first Net Zero Energy project of its kind.

Minn. Metro Transit shutting down part of light rail system for 11 days

Maintenance project includes replacing sections of tracks, upgrading switches, and repairing concrete and overhead wires.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close