NASHVILLE, Tenn. — Penske Truck Leasing has renewed a "strategic partnership" agreement with Bridgestone Americas Inc. covering the testing, development and deployment in the U.S. and Canada of advanced technology and mobility solutions developed by Bridgestone for commercial applications.
The partners extended the contract, which has been in effect since 2016, for three more year. Financial terms were not disclosed.
Under the contract's terms, Penske Truck will remain a "preferred customer" of Bridgestone for commercial tires and Bandag-system retreaded tires. Reading, Pa.-based Penske operates over 350,000 light-, medium- and heavy-duty trucks, vans, semi-trailers, etc. throughout North America.
"Penske is an invaluable partner and collaborator in the drive to produce better business outcomes and a cleaner, more sustainable, low-emissions future for fleets," Chris Ripani, president, truck, bus and retread tires, Bridgestone Americas, said.
"We are thrilled for the opportunity to continue serving the needs of the Penske organization and to extend this important strategic partnership into the future."
Bridgestone said Penske's use of Bandag-system retreads offer environmental benefits such as reduced CO2 emissions, natural resource extraction, water consumption, air pollution and land use when compared with single-use commercial tires.
In 2020, for example, Penske was able to cut its tire waste by 11.5 million pounds through the use of retreads, Bridgestone said.
"Our collaboration with Bridgestone is an important one," Paul Rosa, senior vice president of procurement and fleet planning, Penske Truck Leasing, said.
"Together, we are able to provide our fleet customers with continued reliability, performance, over-the-road support, and enhanced sustainability."
With this contract renewal, the companies will continue to collaborate on technologies and products that offer more efficient and sustainable outcomes for fleet mobility and fleet management.