Michigan Company Awarded Subcontract to Supply Key Chassis Components
CHARLOTTE, Mich., July 26 /PRNewswire-FirstCall/ — Spartan Chassis, Inc.,
a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), today announced it has
received a subcontract award, worth nearly $30 million, from Force Protection,
Inc. to supply and integrate key chassis components in the production of
advanced tactical vehicles under the Mine Resistant Ambush Protected, or MRAP,
program.
The order placed with Spartan Chassis by Force Protection, a Charleston,
S.C.-based manufacturer of ballistic and mine-protected military vehicles,
calls for production to be completed by the end of January 2008. The vehicles
will be utilized by all branches of the U.S. military.
“Spartan Chassis’ proven specialty chassis expertise has afforded us
another opportunity to work with Force Protection,” said Richard Schalter,
president of Spartan Chassis. “These vehicles are in great demand and we are
excited about this and future opportunities to work with Force Protection in
supporting the U.S. military.”
Force Protection is a leader in producing the world’s most advanced mine
protected vehicles that have become the gold standard for troop safety against
the threat of improvised explosive devices (IEDs), land mines, and roadside
bombs.
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