The Company continued to extend its geographic footprint in 2012 as well. "We expanded our Navistar Division by acquiring assets of Ohio-based MVI Group, which operated International, IC Bus, Isuzu and Idealease franchises at certain locations in Akron, Cincinnati, Cleveland, Columbus, Dayton, Findlay and Lima, Ohio. Our Navistar Division now consists of 23 full service locations and 2 collision centers in 6 states. We continue to see performance improvement from our Navistar locations, and will continue to work with Navistar to explore mutually beneficial opportunities for growth in the future," said Rusty Rush.
The Company also added a new location in Columbus, Georgia providing truck sales and service for Isuzu and service support for IC Bus customers in this market. "We continue to invest in existing markets to improve our facilities and service capabilities. By relocating to a new facility, we tripled our service capacity in Phoenix, Arizona. We will relocate to a newly constructed location in Ardmore, Oklahoma this spring with plans for new facilities underway in Corpus Christi and San Antonio, Texas," added Rusty Rush.
The Company also continued to expand its bus business, adding Blue Bird and Elkhart bus sales and service locations in Houston and Dallas, Texas and expanding IC Bus capabilities as part of its recent Ohio acquisition.Rush Truck Leasing now operates 36 Paclease and 9 Idealease franchises and had its most profitable year ever, increasing its lease fleet by 19% and revenues by 20% over 2011. "This growth resulted from a successful service model that maximizes uptime for contracted customers and the addition of resources in several key markets," Rusty Rush continued. "In addition to network growth, we continue to invest in business systems, resources and technology to ensure that we remain a leader in developing the solutions needed to meet customer expectations well into the future," concluded Rusty Rush.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts