The Car and Truck Fleet and Leasing Management Magazine

Penske Increases Ownership in Truck Leasing Joint Venture With GE to 30%

July 18, 2006

STAMFORD, CT— General Electric said that Penske Corp. has purchased an additional nine percent limited partnership stake in Penske Truck Leasing from GE Capital Corp., bringing Penske’s ownership to 30 percent, according to a report by the Associated Press. GE currently owns 70 percent of Penske Truck. Eventually, the companies each expect to own 50 percent stakes.
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James Crocker is director of fleet operations, overseeing purchasing, remarketing, and logistics for Merchants Leasing.

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