Virginia Beach Department of Economic Development

PHH Arval Opens First Commercial Truck Center in Virginia Beach

February 28, 2014

PHH Arval, a leading global fleet management services provider, today announced the opening of its Commercial Truck Center (CTC) of Virginia in Virginia Beach. CTC of Virginia, located at 740 S. Military Highway, is the company’s first in the country to focus on used light, medium and heavy-duty trucks.

“The Port of Norfolk and large military presence supports a number of independent freight and transport businesses that will find value in our inventory of used trucks,” said Tom Keilty, COO and senior vice president for PHH Arval. “In addition, the CTC will enhance returns for our customers’ leased assets by providing a retail channel of distribution for off-lease vehicles.”

“CTC of Virginia is a welcome industry for Virginia Beach,” said Warren D. Harris, director of Virginia Beach Economic Development. “PHH Arval is a leading innovator of global fleet management services, and we anticipate this new commercial truck center will be a model to be replicated in other areas of the country. It will certainly be beneficial for this region’s numerous logistics-dependent companies to have these services available to enhance their operations.”

CTC of Virginia, managed by Sam Trapani, offers a large selection of off-lease light work trucks that are a good fit for small business contractors like plumbers, electricians, and general contracting companies. PHH Arval’s newest enterprise joins other franchise locations in Williamsburg, Va. and Edenton, NC.

PHH Arval, a subsidiary of PHH Corporation (NYSE: PHH), is a leading fleet management services provider in the United States and Canada. PHH Arval provides fleet management solutions to a broad range of industries. Through consultative expertise, flexible customer service, and innovative technology, PHH Arval helps clients reduce costs and increase productivity. PHH is a founding member of the PHH Arval Global Alliance, which operates more than two million vehicles across North America, Europe, Australia, Africa, Asia and Latin America. For more information, visit www.phharval.com, LinkedIn, Twitter or call (800) ONLY-PHH.

The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs. Virginia Beach is the most populous city in Virginia with a population of 447,000, and it is the 37th largest in the United States. It is recognized as one of the Best Run Cities in America by 24/7 Wall St. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2012 and is one of only 29 economic development organizations in the world to have this recognition. Virginia Beach has been recognized as 7^th in Leading the Country in a Manufacturing Revival by Forbes. It is listed among the Top Five Overall Mid-sized American Cities of the Future, Top 10 for Economic Potential and Top Five for Infrastructure by fDi Magazine. CNNMoney.com ranked Virginia Beach as the Easiest Place to Start a Business and the 2nd Most Business-Friendly City in the country. For more information, visit www.yesvirginiabeach.com.

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