CHARLOTTE, Mich., March 6 /PRNewswire-FirstCall/ — Building on its
growing expertise in specialty vehicles, Spartan Chassis, Inc., a subsidiary
of Spartan Motors, Inc. (Nasdaq: SPAR), today announced it has received $16.4
million in subcontract orders for new military vehicles — its second largest
order announcement in 2007.
Under the new subcontracts, Spartan Chassis will supply and integrate key
chassis components in the production of 155 advanced tactical wheeled vehicles
under the Mine Resistant Ambush Protected, or MRAP, program. The vehicles,
which will be used by U.S. Marines and soldiers, are being built under
contracts with two leading U.S. defense manufacturers.
“We are again gratified to lend our expertise in helping to protect U.S.
Marines and soldiers who are stationed in harm’s way,” said Richard Schalter,
president of Spartan Chassis. “Spartan Chassis has been able to successfully
translate the technology, performance and durability built in to each of our
premium fire truck, specialty and RV chassis to the military vehicles we
supply.
“The MRAP vehicles currently in service have a proven track record of
performance. We are honored to be among the suppliers committed to providing
products that safeguard the lives of our servicemen and women.”
Spartan Chassis will provide chassis and components for 80 Category I 4×4
units and 75 Category II 6×6 units under the MRAP program, which is expected
to build up to 4,100 vehicles at a total cost of $2 billion. To date, U.S.
Marines are using more than 60 MRAP vehicles in Iraq. The vehicles are
designed to protect their occupants from a combination of mines, rocket-
propelled grenades, or RPGs, and improvised explosive devices, or IEDs,
through their V-shaped hull, raised chassis and improved armor.
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 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; Ryan McGrath or Jeff Lambert of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, for Spartan Chassis, Inc.