LG ELECTRONICS SELECTS RYDER TO MANAGE CONSUMER ELECTRONICS AND HOME APPLIANCE WAREHOUSE AND TRANSPORTATION NETWORK
- Ryder to manage six U.S.-based LG distribution facilities of three million square-feet -- Ryder to manage six U.S.-based LG distribution facilities of three million square-feet -
MIAMI, April 18, 2005 -- Ryder System, Inc. (NYSE:R), a global leader in supply chain, warehousing and transportation solutions, today announced that LG Electronics USA, Inc., the $7-billion subsidiary of the multi-national technology leader, has selected Ryder to design and manage its U.S. consumer electronics and home appliance product warehousing, transportation and outbound delivery network to its diverse and growing channels of distribution.
When the multi-year contract is fully implemented, Ryder is expected to manage warehouse facilities in New Jersey, California, Illinois, Georgia, Florida and Oregon, comprising nearly three million square-feet. Ryder also will provide value-added warehouse services and a carrier-transportation procurement solution customized for LG. Terms were not disclosed.
"Because of our explosive growth in the United States, LG Electronics was seeking the right supply chain solutions provider to help us manage our growth and deliver improved efficiency and customer service," said Victor Nuila, Vice President, Logistics, LG Electronics USA, Inc. "Ryder has the reputation, capabilities and responsiveness to assist LG in achieving its aggressive goals."
"LG Electronics' supply chain capabilities need to expand at an accelerated rate to keep pace with its incredible growth to maximize profitability and expand its market presence," said Tony Tegnelia, Executive Vice President of U.S. Supply Chain Solutions for Ryder. "Ryder's strategic role in LG's business will allow management to focus on their core product, technology and marketing strengths, while further enhancing customer service and improving speed to market."
About LG Electronics USA
Based in Englewood Cliffs, N.J., LG Electronics USA, Inc., (LGEUS) is the North American subsidiary of LG Electronics, Inc., a $30-billion global leader in consumer electronics, information technology and communications products, headquartered in Seoul, South Korea. LGEUS comprises four core business areas: consumer electronics, home appliances, information technology products and mobile phones. In providing cutting-edge, performance-driven products for the largest digital market in the world, LGEUS's goal is to enable the intelligent networking of digital products that will make consumers' lives better and deliver on the promise of its "LG: Life's Good" marketing theme. For more information, please visit www.lgusa.com.
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.ryder.com.