Boeing Extends Supply Chain Contract With Ryder

MIAMI (AP) — Trucking and logistics management company Ryder System Inc. said Monday it has won a five-year contract from Boeing Co. to manage Boeing's freight bill payment and audit process.

Ryder said it would handle payment and audit services for Boeing's 2.3 million annual freight bills.

Ryder has been working with Boeing since 2007. It said the new contract covers those existing services as well as the new freight bill payment and auditing.

Ryder shares fell $1.48, or 5.9 percent, to close at $23.82. Boeing shares fell $1.84, or 4.8 percent, to close at $36.48.