Penske Strengthens Presence in Europe

Reading, Pa. (ots-PRNewswire) - Penske Truck Leasing has namedPaul Prang Managing Director for European Operations. This newposition reports to Brian Hard, President of Penske TruckLeasing. Prang previously served as Senior Vice President ofOperations for the company's U.S. Central Region, a position hehas held since 1994. "This new position demonstrates Penske's commitment toallocate the resources necessary to support our long-termEuropean growth strategy," said Hard. In his new role, Prang will assist in accelerating the growthof Penske Logistics Europe as well as evaluating additionalmarket opportunities for Penske. He joins Brian Bolam, Presidentof Penske Logistics Europe, as a member of the Board ofManagement. Penske Logistics Europe, which was formed in 1997, wasrecently named European Logistics Company of the Year byInternational Freighting Weekly, one of the leadingtransportation publications in the United Kingdom. Through theacquisition of Transportgroep van der Graaf in 1998 and aninvestment in state-of-the art technology, Penske LogisticsEurope has continued to expand its infrastructure. The companynow offers logistics solutions throughout Europe with a singlecommercial interface. Penske Logistics Europe also established arouting center in Maastricht, The Netherlands, to better servecustomers. This computer driven transport optimization andmanagement system allows Penske Logistics Europe's customers toelectronically access a single point of control for all theirmovements across the continent. "Paul will complement Brian Bolam and our talented staff inEurope. His leadership ability, as demonstrated through a numberof years at the executive level, and his operational expertise intransportation will enable Penske to strengthen its position inthis key region," said Hard. Prang began his career in 1973 as a District Manager withPepsi Co. Truck Rental, a Gelco Truck Leasing company. He waspromoted to Area Vice President with Gelco in 1979, a position heretained after the 1988 combination of Gelco's truck leasingoperations with Penske's to create Penske Truck Leasing. With annual revenues of more than US $2.5 billion, PenskeTruck Leasing is one of the largest providers of transportationservices in North America. The company operates over 120,000vehicles to serve customers from approximately 450 locations inthe United States, Canada, and Mexico. Product lines include fullservice leasing, contract maintenance and commercial and consumertruck rental. The company's Penske Logistics provides integratedlogistics services through an additional 200 locations, and itsLeaseway Auto Carrier offers automotive carriage services. PenskeLogistics Europe, a wholly-owned subsidiary of Penske TruckLeasing, provides pan-European logistics solutions. Cotia PenskeLogistics Ltda., a joint venture between Penske Logistics andCotia Trading, provides supply chain management services in SouthAmerica. ots Original Text Service: Penske Truck LeasingInternet: http://www.newsaktuell.de Contact: Debra Phillips ofPenske Truck Leasing (USA) 610-775-6408 Web site:http://www.penske.com

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