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Ryder Completes Logistics Acquisition
Ryder System said Tuesday it has completed its acquisition of a Canadian logistics firm with operations in China.
Ryder bought Tacific Container Terminal Ltd. and CRSA Logistics Ltd., as well as CRSA’s operations in Hong Kong and Shanghai, China. The deal was first announced in October.
The companies will now operate as Ryder Transpacific Container Terminal, or Ryder TCTL, and Ryder CRSA Logistics, respectively.
Doug Stewart, president of TCTL and CRSA Logistics, and David Seath, vice president of CRSA Logistics, will continue to lead the Canada-based and Asian operations as part of Ryder’s Canadian management team.
The acquisition is expected to add more than $20 million U.S. dollars in annual revenue to Ryder’s supply chain Solutions business unit, the company said.
Ryder is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.