GE to fleet owners: "We'll own & manage your trailers -- you pocket savings"

ORLANDO, Fla., October 23, 2007 - GE Equipment Services has launched a new multi-service productivity solution in which its Trailer Fleet Services business will take on the ownership of all or a portion of a company's over-the-road trailer fleet, in exchange for a simple monthly payment.

Called "Total Fleet Management," the new GE solution is intended to liberate customers from the financial liabilities and maintenance worries that come with running a trailer fleet, delivering solid productivity gains in the process. These firms can now focus on their core competency, whether it's ensuring reliable, on-time delivery as a common carrier or selling retail goods, as in the case of a grocery chain.

"Acquiring, maintaining and remarketing trailers can be a hassle for many firms, no doubt about it," said Trailer Fleet Services CEO Joe Artuso. "For our company however, it's what we've specialized at for 50 years, and we certainly know how to go about it. Our goal is to share the breadth of GE's capabilities and technology to optimize the efficiency of a customer's trailer fleet. This gives our customers budget predictability, cash flow flexibility and more time to devote to their own customers."

The new offering is similar to what GE already does for the U.S. Postal Service (USPS). GE supplies the USPS with 4,752 dry van trailers, each equipped with a high-tech VeriWise TRUCKING satellite transceiver. The contract includes preventative and emergency maintenance services to keep the mail moving, and a simplified process for handling trailer damage claims. Last year GE earned a renewal of the $100 million six-year contract.

With Total Fleet Management, GE first conducts an in-depth financial analysis to understand the customer's business model, cash flow needs, and tax situation. GE then structures the solution with the right financing tool for the customer while taking on the responsibility of maintaining the fleet and refreshing it with new trailers when needed. At the same time, GE will use its analytical capability from its VeriWise Asset Intelligence and maintenance management technology to identify trends and help further reduce fleet operating costs.

"Predictability in the total cost of transporting goods has been an elusive goal for many companies," Artuso said. "Freight tonnage, fuel prices and labor costs all take their toll on profitability. What we're offering is the confidence and peace of mind that comes from partnering with a leading company like GE that understands both financial services and trailers -- and knows how to get the most value out of technology as well."

For more information, visit www.trailerservices.com, or call 1-800-333-2030.

 

About Trailer Fleet Services from GE

GE's Trailer Fleet Services business is based in Wayne, Pa., and is a single-source provider for all aspects of trailer fleet management. Now celebrating its 50th year, it has been a recognized leader in over-the-road total fleet management solutions, which today includes everything from leasing, renting, financial services, insurance, maintenance, remarketing and asset tracking. Total Fleet Management is also a designated GE "Imagination Breakthrough" (IB), a term the company uses to describe innovative organic growth projects. To qualify as an IB, each innovation must have potential for market transformation and have potential to achieve more than $100 million in incremental revenue. The current IB portfolio contains more than 45 IB projects in development around the globe. GE's Trailer Fleet Services business has 130,000 over-the-road trailer assets, and operates a North American network of 90 branch locations, staffed by a sales and operations team of 900 employees. A unit of GE Equipment Services, its website is www.trailerservices.com.

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MEDIA CONTACTS:

Patrick Brennan, Media Relations Manager, 484-254-0127 or patrick.brennan@ge.com