Trailer Lessor TIP Adopts Parent Company Name; Will Offer Trailer Fleet Services under GE Brand DEVON, Pa.--(BUSINESS WIRE)--Aug. 26, 2004--Transport International Pool, Inc., has transitioned its TIP trailer leasing market brand in North America to that of its parent, the General Electric Company (NYSE: GE), and will now offer its integrated trailer fleet services portfolio directly under the name of GE. Its legal structure as a wholly owned affiliate company within GE's Equipment Services division remains the same.
GE is a significant contributor to the global Transportation sector, including both the manufacture of aircraft engines and locomotives, and the offering of financial, insurance and leasing services for aircraft, railcars, automobile fleets, intermodal containers, and trucks and trailers. The Company itself is also a major international freight shipper.
Over the last few years, we've helped customers solve many their most complex business issues by leveraging the broad technical and financial resources of GE, said Marty Thomas, President & CEO of what will now be known as GE's Trailer Fleet Services business. As a result, we've gradually expanded our service offerings beyond just trailer rental & leasing. Our move to the GE brand reflects that reality.
To recognize the nearly 50 year heritage of the TIP brand, GE will continue to use it as a portfolio name for its rental & leasing offering. The full portfolio of Trailer Fleet Services now includes: TIP Rental & Leasing, Financing & Insurance, GE VeriWise(TM) asset intelligence, Maintenance Management, and Remarketing.
GE's Trailer Fleet Services business has 125,000 over-the-road trailer assets, and operates a North American network of 100 branch locations, staffed by a sales & operations team of 900 employees. Its website is www.trailerservices.com. With more than $16 billion of assets, GE Equipment Services helps businesses around the world manage, finance, operate and maintain a wide variety of equipment including vans, trucks, trailers, railcars and modular buildings.
GE (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better.
NOTE TO EDITORS: PLEASE UPDATE STYLEBOOK REFERENCE GUIDES AS FOLLOWS:
-- Going forward, do not use TIP , GE TIP , or Transport International Pool when describing the company.
-- Acceptable and Proper first references may simply be: GE
-- Examples of Proper Second References may be:
-- The Trailer Fleet Services division of GE (formerly TIP) announced today...
-- The Trailer Fleet Services division of GE announced today...
-- The Trailer Fleet Services business of GE Equipment Services said today..
-- GE's Devon-Pa.,-based Trailer Fleet Services division has announced....
-- Subsequent references can simply be: GE
-- DO NOT abbreviate Trailer Fleet Services or use TFS - if you need to abbreviate, use: GE
--30--KB/ny*
CONTACT: GE
Patrick Brennan, 610-648-6498