One of the nation’s largest trucking companies has filed the necessary paperwork to become a publicly-traded company and be listed on the New York Stock Exchange.
Schneider National, Inc. earlier this week announced it had filed a registration statement in order to make an initial public offering of stock. The number of shares to be offered and the price range for the offering have not yet been determined.
Based in Green Bay, Wisconsin, Schneider is the eighth largest carrier in the U.S., according to Commercial Carrier Journal’s Top 250 ranking of trucking companies. It has more than 13,800 tractors, over 39,500 trailers and employs almost 14,650 drivers.
Schneider was founded in 1935 by A.J. “Al” Schnieder, who, according to the company’s website, sold the family car to buy his first truck. Since then, the company has grown to have some $4 billion in annual revenues.
When the company announced its intent to go public in October, it said in a news release:
“The objectives of the planned transaction are to facilitate continuity of controlling ownership of Schneider by the future generations of the Schneider family, while continuing forward with its long-standing, independent, and professional, corporate governance structure. This transaction will allow the company to continue its commitment to Wisconsin and the community, and to maintain and further investments in its long-term positioning. The Schneider family and the board of directors believe the planned transaction is in the best interests of Schneider, its associates, customers, and shareholders.”
