Reading’s Penske Truck Leasing celebrates 50th anniversary

Penske Truck Leasing (PTL), which was founded in Reading, Pa., by Roger Penske in 1969, marked its 50th anniversary Sunday.

To commemorate the company’s 50th anniversary, the Pennsylvania State Senate declared Dec. 1, 2019, as Penske Truck Leasing Day.

PTL was created through the acquisition of a car and light truck rental and leasing business with three locations in eastern Pennsylvania. The company has since grown organically and through acquisitions. Today, PTL generates $8.4 billion in annual revenue and operates globally, with 1,100 locations, 37,000 associates and 326,000 vehicles.

PTL recently introduced a new corporate brand, Penske Transportation Solutions, which is the umbrella brand for the company’s various business lines, which include Truck Leasing, Truck Rental, Logistics, Transport Systems and Vehicle Services.

“Our success has always been driven by our talented and highly motivated associates who dedicate themselves to making the needs of our customers their top priority,” Roger S. Penske, chairman of Penske Transportation Solutions, said. “I am grateful to our talented associates around the globe for the contributions they have made to the success of the Company.”

“We are proud of the businesses we’ve built and we are also appreciative of how our success has enabled us to give back and reinvest in our communities, especially here in Reading, Pennsylvania, where we remain headquartered,” Brian Hard, president and CEO of Penske Transportation Solutions, said. “As we look to the future, we will continue to invest significantly in technologies that are truly shaping the future of mobility. This includes investments in digitalization, advanced vehicle safety features, fleet maintenance, connected fleet technologies, electric vehicles, and other emerging platforms.”