SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) November 12, 1999
Rollins Truck Leasing Corp.
(Exact name of registrant as specified in its charter)
Delaware 1-5728 51-0074022
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File number) Identification No.)
One Rollins Plaza, Wilmington, Delaware 19803
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302) 426-2700
Item 5. Other Events.
Following is the text of the Company's November 15, 1999 press
release:
Rollins Truck Leasing Corp. ("the Company") (NYSE; PCX-Symbol:
RLC) today announced that Rollins Leasing Corp. ("Rollins"), its
principal operating subsidiary, has entered into a Strategic Alliance
Agreement with the UPS Logistics Group. Under the terms of the
Agreement, Rollins would become the preferred provider of lease and
rental vehicles and other ancillary services to Worldwide Dedicated
Services, Inc., a unit of the UPS Logistics Group. In turn, the UPS
Logistics Group would become the preferred provider of logistics
management and dedicated logistics services to Rollins and its
customers.
In conjunction with the above, Rollins has executed an agreement
to acquire UPS Truck Leasing, which provides full-service lease and
rental services to 4,000 customers from 54 facilities throughout the
U.S. UPS Truck Leasing currently provides maintenance services on more
than 9,000 vehicles.
Concurrently, Rollins Truck Leasing Corp. will sell the assets and
business of Rollins Logistics Inc. to Worldwide Dedicated Services, a
UPS Logistics Group company. Rollins Logistics provides dedicated and
logistics services to more than 100 customers throughout the United
States.
John W. Rollins, Chairman and CEO, said, "Partnering with a world-
class organization such as the UPS Logistics Group will allow us to
provide an enhanced level of service to our existing customers and
enable us to tap into new markets. We expect this alliance will create
exceptional value for our shareholders."
Annual revenues for the Company are expected to increase by
approximately $40 million as a result of the acquisition of UPS Truck
Leasing and the sale of Rollins Logistics Inc. Significant additional
revenue growth is expected during the next few years as a result of the
alliance.
Closing under the agreements is subject to normal conditions and
regulatory approvals and is expected to occur in early January, 2000.
This release contains or may contain forward-looking statements
based on management's beliefs and assumptions. Such statements are
subject to various risks and uncertainties which could cause results to
vary materially. Please refer to the Company's SEC filings for a
discussion of such factors.
* * *
Rollins Truck Leasing Corp., the nation's third largest full-
service truck leasing and rental company, services approximately 40,000
vehicles from 227 facilities strategically located throughout the
United States and Canada. The Company also currently provides
logistics services and manages complete truck transportation and
distribution systems for companies in a wide range of industries.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Rollins Truck Leasing Corp.
DATE: November 22, 1999 BY: /s/ Patrick J. Bagley
Vice President-Finance and
Treasurer
