Refrigerated trucker Stevens Transport is purchasing 1,200 temperature-controlled trailers from Utility Trailer Manufacturing to reinforce its growth plans.
Demand for refrigerated transportation is increasing, especially as food retailers move to more regional distribution networks designed to keep produce fresh. The number of refrigerated trucks in the U.S. is expected to grow at a compound annual rate of 4.6 percent through 2014, according to a report by Technavio.
Stevens is the 16th-largest truckload carrier in the U.S., according to data from SJ Consulting Group. It operates more than 2,000 trucks and 3,500 trailers.
The privately owned Dallas-based company’s trucking revenue increased 8.2 percent in 2010 to about $500 million, according to SJ Consulting Group estimates.