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    PHH Arval purchases First Fleet Corp

    Feb. 13, 2004
    PHH Arval has announced its purchase of First Fleet Corp. This acquisition will merge First Fleet Corp's 58,000 medium and heavy trucks with PHH's 527,000

    PHH Arval has announced its purchase of First Fleet Corp. This acquisition will merge First Fleet Corp's 58,000 medium and heavy trucks with PHH's 527,000 light trucks and cars.

    "Now our purchase of First Fleet, a leader in the highly specialized area of truck fleet services, dramatically strengthens our presence in the expanding truck fleet market," said George Kilroy, president and chief executive officer of PHH.

    PHH Arval has declined to comment on what the First Fleet acquisition cost.

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