Eurocold to invest $100 million in refrigerated trucking

Following the launch of a Western Sydney facility earlier this month, Eurocold has announced investment plans for the next three years.

The refrigerated transport specialist has committed to a $100 million spending that will see the business expand through new markets, including New Zealand.

Eurocold will also open new facilities in Melbourne and Perth to complement its new Sydney launch and Brisbane base.

This commitment over the next three years will see up to 800 trucks being deployed, the initial goal being 500 trucks.

The nexus of Eurocold’s establishment three years ago was securing the Australian rights for Isokit refrigerated bodies.

In that time, Eurocold has become one of the leading companies in the space combining decades of experience, innovation and a customer service focused approach.

Eurocold MD Avraam Solomon and the company’s key executives have spent significant time researching global trends in refrigerated trucking – both in person and anecdotally – and, when it comes to renting or leasing trucks, the Australian market lags in uptake when compared to global counterparts – something Eurocold wishes to change, the company states.

“I’ve spent a lot of time in Europe in the last 12 months looking at large businesses that specialise in refrigerated truck leasing and rentals,” Solomon said.

“For example in Europe, of all the vehicles that are produced every year, we know that 58 per cent of the builds go into long term rentals trading to leasing off balance sheet.

“Currently in Australia, it is a fraction of that – the percentage of rental take-up is more like 1 to 3 per cent – so there is significant opportunity for transport fleet operators to scale with flexibility and ensure their fleets feature the latest technology, which then flows onto a second hand market.

“We see ourselves as a large participant in the industry to get rigid vehicles that are of the highest quality and standard onto the road,” he added, “so we’re always using the most modern chassis’ and sourcing the best Isothermal bodies from around the world.”

Revora, which was launched in March, showcased its first refrigerated electric truck at the recently concluded Brisbane Truck Show.

Revora will be a fully owned sub-brand that specialises in the rental of rigid, electrified trucks.

Revora GM Nathan Gore-Brown announced that Carrier will be a supplier of new technologies for the electric, refrigerated transport industry in Australia.

“Revora is a real investment to us. It is something that is costing us money every month, which we forecast will take 12 months or two years before starting to see significant returns,” Gore-Brown said.

“Revora (and Eurocold for that matter) are companies that really want to see the industry make a difference in the long-term sustainability of refrigerated transport – and to our environment – because we believe in it.

“The usage situation for clients is what will drive the selection of chassis and body size. We’ve been working with our partners at Carrier to utilise its new technology designed specifically for an electrified body and we’ve progressed with suppliers in other areas when it comes to those selections of chassis, battery technology and charging units.

“It will take commitment and buy-in from the industry for Revora to get there. We acknowledge that the industry has to be willing to participate in order for us to get it to a position of profitability.”

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