CHARLOTTE, Mich., Nov. 20 /PRNewswire/ — Spartan Chassis, Inc., a
subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), today announced it has
received a $49 million subcontract order from General Dynamics Land Systems to
supply and integrate key chassis components in the production of advanced
tactical vehicles under the Mine Resistant Ambush Protected, or MRAP, program.
The vehicles under this order will be utilized by multiple branches of the
U.S. military. MRAPs 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.
“This latest contract award is further validation of Spartan’s expertise
and responsiveness in the critical role we play in the production of MRAP
vehicles,” said Richard Schalter, president of Spartan Chassis. “These
vehicles continue to be the U.S. military’s highest priority and we are
honored to be among the suppliers selected to provide products that safeguard
the lives of our military men and women.”
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.
General Dynamics Land Systems, headquartered in Sterling Heights,
Michigan, is a wholly owned subsidiary of General Dynamics Corporation
(NYSE: GD). The company designs and builds armored vehicles and subsystems for
the U.S. Army, U.S. Marine Corps, and international customers, and is the
defense industry’s largest supplier of armored military vehicles.
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.
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.
11/20/2007
CONTACT: Karen Hildebrant of Spartan Chassis, Inc.+1-517-543-6400 ext.
3111or Jeremy Bakken or Jeff Lambert, both of Lambert, Edwards & Associates
+1-616-233-0500
CO: Spartan Chassis, Inc.; General Dynamics Land Systems
ST: Michigan
IN: ARO AUT HMS
SU: CON