Penske Truck Leasing Establishes Diesel Excellence Scholarship Program with Universal Technical Institute (UTI) Foundation

News provided by

Universal Technical Institute Foundation

May 02, 2013, 09:50 ET

READING, Pa., May 2, 2013 /PRNewswire-USNewswire/ -- Penske Truck Leasing has established the Penske Truck Leasing Diesel Excellence Scholarship through the Universal Technical Institute (UTI) Foundation. The new scholarship program is being established through a gift of $100,000 to the UTI Foundation and is intended for students attending any of the Universal Technical Institute's eight campuses across the country that offer an auto diesel-training program.

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"Well-trained technicians play an absolutely critical role in the success of our customers," said Penske Truck Leasing President and CEO Brian Hard. "We are pleased to collaborate with Universal Technical Institute. The UTI program provides students with a solid foundation in the core skills needed to maintain today's advanced diesel engines."

The Penske Truck Leasing Diesel Excellence Scholarship will be awarded each quarter to up to three students. Each $3,000 scholarship will help to offset education expenses for qualifying UTI students who apply and meet the scholarship's requirements, which include a written application and 3.5 GPA or higher.

"The UTI Foundation is thrilled to partner with Penske Truck Leasing on this important scholarship," said Veronica Meury, UTI Foundation Vice President and Executive Director. "According to the U.S. Department of Labor, Bureau of Labor Statistics, employment of diesel service technicians and mechanics is expected to grow 15 percent between now and 2020. The Penske Truck Leasing Diesel Excellence Scholarship will help to train diesel repair technicians to receive the technical education they need to follow their passion and pursue successful careers while meeting this emerging workforce need."

The Penske Truck Leasing scholarship program will begin in summer 2013 with the first application deadline of June 15, 2013. For more information about the Penske Truck Leasing Diesel Excellence Scholarship, visit the UTI Foundation website: www.utifoundation.net.

About UTI Foundation
The UTI Foundation, a 501(c)(3) Arizona nonprofit, is the umbrella organization for all Universal Technical Institute, Inc. (NYSE: UTI) not-for-profit initiatives and is dedicated to raising funds to support and encourage technical education for the automotive, diesel, collision repair, motorcycle, marine, NASCAR and other transportation industries through scholarships, grants, career development and other special programs. For more information, visit www.utifoundation.net.

About Universal Technical Institute
Headquartered in Scottsdale, Arizona, Universal Technical Institute, Inc. (NYSE: UTI) is the leading provider of post-secondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. With more than 160,000 graduates in its 47-year history, UTI offers undergraduate degree, diploma and certificate programs at 11 campuses across the United States, as well as manufacturer-specific training programs at dedicated training centers. Through its campus-based school system, UTI provides specialized post-secondary education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NASCAR Tech).

About Penske Truck Leasing
Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint venture of Penske Corporation, Penske Automotive Group and General Electric Capital Corporation. A leading global transportation services provider, Penske operates more than 200,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions. To learn more about Penske's products and services please visit http://www.GoPenske.com and our "Move Ahead" blog. Penske on social media: Facebook, Twitter, LinkedIn, Google+ and YouTube.