CHARLOTTE, Mich., Sept. 27 /PRNewswire-FirstCall/ — Spartan Chassis,
Inc., a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), today announced it
has received a new $52 million subcontract order from Force Protection, Inc.
to support the production of Cougar series advanced tactical wheeled vehicles.
Spartan said it will supply and integrate key chassis components for the
vehicles, slated for use by the U.S. military, by March 2008. This new order
brings the Mich.-based custom chassis manufacturer’s total 2007 MRAP
subcontract awards to approximately $317 million, more than triple its
military subcontract orders in all of 2006.
“This award validates Spartan’s ongoing ability to meet the critical
demands of both our OEM partners and the U.S. military,” said Richard
Schalter, president of Spartan Chassis. “Spartan is once again primed to
leverage our specialty chassis expertise, along with our increased production
capacity, to assist Force Protection in providing high-survivability vehicles
to our troops.”
MRAP vehicles are prized by the military for their V-shaped hulls, raised
chassis and improved armor, which help protect servicemen and women from
improvised explosive devices, or IEDs, mines and other hazards of war.
About Spartan Chassis, Inc.:
Spartan Chassis, Inc., a subsidiary of Spartan Motors, Inc. (Nasdaq:
SPAR), is a leading developer and manufacturer of custom chassis for
recreational vehicles, fire trucks and specialty vehicles. Spartan Motors,
which also manufactures emergency rescue vehicles under the brand names of
Crimson Fire, Crimson Fire Aerials and Road Rescue, reported sales of $445
million in 2006 and is focused on becoming the premier manufacturer of
specialty vehicles and chassis in North America. Visit www.spartanchassis.com
for more information.
About Force Protection, Inc.:
Force Protection, Inc. (Nasdaq: FRPT), first to answer the call to duty
for the urgent need to bring lifesaving mine-resistant ambush protected
vehicles to U.S. troops in combat, is an American company whose vehicles,
Cougar and Buffalo, have a proven track record where it matters most — on the
battlefield. These specialty vehicles protect against landmines, hostile
fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside
bombs). Force Protection’s mine and ballistic protection technologies are
among the most advanced in the world. The vehicles are manufactured outside
Charleston, S.C. For more information on Force Protection and its vehicles,
visit www.forceprotection.net.
This release contains forward-looking statements, including, without
limitation, statements concerning our business, future plans and objectives
and the performance of our products. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements. Technical complications may arise that could
prevent the prompt implementation of the plans outlined above. The company
cautions that these forward-looking statements are further qualified by other
factors including, but not limited to, those set forth in the company’s Annual
Report on Form 10-K filing and other filings with the United States Securities
and Exchange Commission (available at http://www.sec.gov). Government
contracts and subcontracts typically involve long payment and purchase cycles,
competitive bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations and
milestone requirements. An announced award of a governmental contract is not
equivalent to a finalized executed contract and does not assure that orders
will be issued and filled. Government agencies also often retain some portion
of fees payable upon completion of a project and collection of contract fees
may be delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no obligation to
publicly update or revise any statements in this release, whether as a result
of new information, future events or otherwise, except as required by law.
SOURCE Spartan Chassis, Inc.
CONTACT:
Karen Hildebrant of Spartan Chassis, Inc.
+1-517-543-6400
ext. 3111
or
Ryan McGrath or Jeff Lambert of Lambert, Edwards & Associates
+1-616-233-0500