Alterman Transport Lines Inc, a Florida-based LTL trucking company, plans an orderly liquidation of its operations and notified its employees of its plan to cease operations Feb 3, 2003.

Founded in Miami FL in 1938 by Sidney Alterman, who died in 2000, the company grew to become a nationwide refrigerated motor carrier that specializes in the transport of perishable foodstuffs in LTL quantities throughout the United States. It operates 14 terminals nationwide including seven in Florida. About 900 employees will be affected.

Alterman Transport had sustained operating losses the past several years, and had recently sought a buyer for the assets of the business. All alternatives were examined, and liquidation appeared to be the most viable strategic course.

The company's primary assets are found in its real estate holdings and operating equipment. Alterman Transport will develop a plan to market the real estate and plans to auction its trucks and related equipment in February at its Charlotte NC and Tampa and Opa Locka FL terminal facilities. Taylor and Martin will conduct the auction.

Alterman Transport is notifying its customers of its decision and assuring them that current deliveries will be completed on schedule. Rick Alterman, president, said the company is committed to delivering all of the freight in its system to their agreed destinations. In addition, he plans to assist customers to find new carriers as much as possible.

The company started with one truck, 64 years ago and grew into a fleet of more than 600 tractors and 1,000 trailers. Sidney Alterman was one of trucking's pioneers, especially in the refrigerated segment of the industry.