Penske Corporation
Penske Corporation is an American, Bloomfield Hills, Michigan-based, privately held, diversified transportation services company. Auto racing legend Roger Penske serves as chairman, and Rob Kurnick as president.
Acquisitions
In 1985, Penske acquired Hertz's Truck Rental division to form Hertz/Penske Truck Rental. In 1992, "Hertz" was dropped and it became Penske Truck Rental.
On June 5, 2009, it was announced that Penske would purchase the Saturn brand and its assets from the bankrupt General Motors. Just three months later, on September 30, Penske announced it would no longer acquire Saturn from GM due to manufacturing uncertainties.
Subsidiaries
Penske's subsidiaries include:
Team Penske (Motorsports team)
Penske Motor Group (retail automotive in California only)
Companies in which Penske Corporation owns a stake and performs a controlling role:
Penske Truck Leasing (joint venture between Penske Corp. and GE)
- Penske Logistics (Supply chain management and logistics service, a subsidiary of Penske Truck Leasing)