CHARLOTTE, Mich., May 4 /PRNewswire-FirstCall/ — Spartan Chassis, Inc., a
subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), reported today it expects a
subcontract order from Force Protection, Inc. to supply chassis for an
additional 79 Cougar Joint Explosive Ordnance Disposal Rapid Response Vehicles
(JERRV).
On May 2, 2006, the U.S. Department of Defense announced it was offering
the prime procurement contract to Force Protection for the additional Cougar
vehicles, which will be used by the U.S. Marine Corps.
“We have heard numerous reports of the Cougar saving lives in the ongoing
war in Iraq, and there hasn’t been a single fatality to date within a Cougar,
despite numerous mine and IED denotations and enemy engagements,” said Richard
Schalter, president of Spartan Chassis.
“The speed in which Spartan Chassis was able to move from conceptual
design to production during our first batch of orders allowed Force Protection
to get these vehicles into battle. We are focused on accelerating production
to complete our existing orders so we can help the Marines deploy these new
units.”
The Cougar is a medium-sized, blast-protected vehicle produced in both
four- and six-wheel configurations. The vehicle’s V-shaped hull is designed to
deflect the force of explosions away from passengers inside the armored hull.
It can be customized for multiple tasks including urban patrol, route
clearance support, troop transport, mine and explosive ordnance disposal,
command and control, reconnaissance and as a lead convoy vehicle.
In May 2005, Spartan was awarded its first subcontract order from Force
Protection for 120 Cougars. The Cougar is currently deployed by the U.S. Army
and U.S. Marine Corps in places such as Iraq.
“We are pleased with the opportunity to continue our work on the Cougar
and showcase our specialty vehicle expertise,” Schalter said. “The additional
revenue from this expected order will have a positive impact on our results in
the second half of 2006 and into early 2007, and we are committing our plant
resources to ensure we can meet the military’s timeframe.”
About Spartan Chassis, Inc.:
Spartan Chassis, Inc. (http://www.spartanchassis.com ) is a subsidiary of
Spartan Motors, Inc. and is a leading developer and manufacturer of custom
chassis for recreational vehicles and fire trucks. The company has a
reputation for high quality, value, service and being the first to market with
innovative products. Spartan Motors is publicly traded in the NASDAQ Stock
Market under the ticker symbol SPAR.
About Force Protection, Inc.:
Headquartered near Charleston, South Carolina, Force Protection, Inc.
(OTC Bulletin Board: FRPT) manufactures ballistic and mine protected vehicles
through its subsidiary. These specialty vehicles are designed to offer
significant protection against landmines, hostile fire and IEDs. For more
information about Force Protection, visit http://www.forceprotectioninc.com .
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 Form
10-KSB 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: Ryan McGrath or Jeff Lambert of Lambert, Edwards & Associates,
Inc., +1-616-233-0500