OTHER NEWS - Sept. 20, 1996
Times Staff and Wire Reports
Ryder to Sell Rental Trucks: The Miami-based firm agreed to sell its most recognizable asset--its 33,000 yellow consumer rental trucks--to a group of investors for $575 million. “The decision to sell consumer truck rental was in many ways an emotional one, since to many people the yellow truck has become the icon of our company,” Ryder System Inc. Chairman Anthony Burns said. Ryder has about 30% of the nation’s consumer truck rentals, and the business represents about 10% of Ryder with $547 million in revenue last year. The buyers are led by Southfield, Mich.-based investment group Questor Management Co.
