RYDER TO TAKE REORGANIZATION CHARGE
Ryder Systems Inc. said Friday that it will take a pretax restructuring
charge of $42 million to $47 million in the fourth quarter, as the result
of the reorganization announced in late November.
The reorganization combines Ryder’s two business units: Ryder
Transportation Services and Ryder Integrated Logistics, into one operating unit. Ryder
will also add a captive finance subsidiary, Ryder Capital Services.
"The principal reasons for implementing this reorganization were to
improve service to our clients, leverage Ryder’s considerable competitive advantages and,
as a result, increase shareholder value," said M. Anthony Burns, chairman and chief
executive officer of Ryder.