Penske Truck Leasing (PTL) celebrated its 50th anniversary. Founded in 1969 by Roger Penske in Reading, PA, the company was created through the acquisition of a car and light truck rental and leasing business with three locations in eastern Pennsylvania.
Through the years, PTL has grown its business both organically and through acquisitions. Today, the company generates $8.4 billion in annual revenue and operates a global platform that includes 1,100 locations, 37,000 associates, and a fleet of 326,000 vehicles.
Recently, Penske Truck Leasing introduced a new corporate brand, Penske Transportation Solutions, which reflects the breadth and depth of its increasingly diversified transportation businesses. Going forward, Penske Transportation Solutions will be the new brand name for PTL’s business lines that include truck leasing, truck rental, logistics, transport systems, and vehicle services.
“Our success has always been driven by our talented and highly motivated associates who dedicate themselves to making the needs of our customers their top priority,” said Roger S. Penske, chairman of Penske Transportation Solutions. “I am grateful to our talented associates around the globe for the contributions they have made to the success of the Company.”
“We are proud of the businesses we’ve built and we are also appreciative of how our success has enabled us to give back and reinvest in our communities, especially here in Reading, Pennsylvania, where we remain headquartered,” said Brian Hard, president and CEO of Penske Transportation Solutions. “As we look to the future, we will continue to invest significantly in technologies that are truly shaping the future of mobility. This includes investments in digitalization, advanced vehicle safety features, fleet maintenance, connected fleet technologies, electric vehicles, and other emerging platforms.”
To help commemorate the company’s 50th anniversary, the Pennsylvania State Senate declared December 1, 2019, as Penske Truck Leasing Day.
Penske Transportation Solutions is the umbrella brand for Penske Truck Leasing, Penske Logistics, Epes Transport Systems, Penske Vehicle Services and related businesses. The Penske businesses provide innovative transportation, supply chain, and technology solutions.
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