CHARLOTTE, Mich., March 28, 2013 (GLOBE NEWSWIRE) — Spartan Motors, Inc. (Nasdaq:SPAR) (“Spartan” or the “Company”) announced its Supplier Performance And Review Committee (SPARC) recognized seven top-performing suppliers during the 11th Annual Supplier Conference held March 27, 2013 in Charlotte, Mich. Spartan Motors honored key partners which were instrumental in its growth in 2012. Spartan posted revenue of $471 million in 2012, an increase of 10.5% from 2011 revenue of $426 million. The Company also recorded its backlog at the end of 2012 increased 20% from the end of 2011.
“Spartan Motors strives to provide high quality products on a consistent basis to our customers,” said Drew Schramm, Senior Vice President of Supply Chain Management. “Spartan’s suppliers play a critical role in ensuring our success as they consistently deliver exceptional products to enhance our product portfolio. We are thankful for these opportunities to collaborate and above all, value each member of our supplier network and the work they do each day.”
The suppliers honored consistently embody the values of Spartan Motors and maintain an unwavering commitment to quality, on-time delivery and excellent customer support. The companies which were recognized during the 2013 Supplier Conference exceeded the standards of excellence at Spartan Motors:
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Allison Transmission (Indianapolis, Ind.)
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Cummins Bridgeway, LLC (New Hudson, Mich.)
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Dana (Sterling, Ill.)
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F.B. Wright Company (Kentwood, Mich.)
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Precision Cable Assemblies, LLC (Brookfield, Wis.)
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Professional Metal Works (Haslett, Mich.)
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TriMark Corporation (New Hampton, Iowa)
Additional suppliers were recognized for other contributions to Spartan Motors.
The 1,000-plus suppliers to Spartan Motors are continually evaluated to ensure adherence to the Company’s ever-increasing requirements. Suppliers that consistently exceed the performance criteria have the opportunity to increase their business with the Company.
Spartan Motors has a blended growth strategy to give the Company a more balanced revenue stream that is much less dependent on any single customer than it was just three years ago. Now our task is to sustain revenue growth momentum while improving profitability. To that end, we developed the D.R.I.V.E. strategy that recognizes a successful organization is one with integrated operations and a healthy culture that encourages innovation and growth. The major facets of the D.R.I.V.E. strategy are:
— Diversified Growth
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We will develop and sustain a product portfolio that will diversify our revenue stream to weather industry cycles.
— Redefining Technology and Innovation, Develop Exciting Products
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Spartan is a high-end, high-performance brand in each of its markets. Customers willingly pay more for our products because they place a high value on the solutions and experience we provide.
— Integration of the Enterprise to Achieve Operational Improvement
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We will match product innovation with more efficient manufacturing and sales activities. Spartan must generate an attractive profit that will support reinvestment in the company and earn a higher return for shareholders.
— Vibrant Culture
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To maintain our product leadership and creativity, we will maintain a corporate culture that fosters and rewards those qualities.
— Extend Our Core Markets
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Spartan and Utilimaster are two outstanding brands that serve our three core markets. We expect to be the first name customers think of for services, parts or a new vehicle by providing a superior solution to their needs or the experience they deserve.
D.R.I.V.E. encourages a heightened focus, teamwork and a common approach across the organization. It is intended to align our efforts and emphasize the importance of collaboration and integration across business units. Adhering to this strategy, Spartan will be able to develop new products, advance into new markets and operate more effectively and efficiently than before.
About Spartan Motors
Spartan Motors, Inc. designs, engineers and manufactures specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle (RV), emergency response, government services, defense, and delivery and service markets. The Company’s brand names – Spartan™, Spartan Chassis™, Spartan ER™, Spartan ERV™ and Utilimaster® – are known for quality, performance, service and first-to-market innovation. The Company employs approximately 1,800 associates at facilities in Michigan, Pennsylvania, South Dakota, Indiana and Florida. Spartan reported sales of $471 million in 2012 and is focused on becoming a global leader in the design, engineering and manufacture of specialty vehicles and chassis. Visit Spartan Motors at theshyftgroup.com.
This release contains several forward-looking statements that are not historical facts, including statements concerning our business, strategic position, financial strength, future plans, objectives, and the performance of our products. These statements can be identified by words such as “believe,” “expect,” “intend,” “potential,” “future,” “may,” “will,” “should,” and similar expressions regarding future expectations. These forward-looking statements involve various known and unknown risks, uncertainties, and assumptions that are difficult to predict with regard to timing, extent, and likelihood. Therefore, actual performance and results may materially differ from what may be expressed or forecasted in such forward-looking statements. Factors that could contribute to these differences include operational and other complications that may arise affecting the implementation of our plans and business objectives; continued pressures caused by economic conditions and the pace and extent of the economic recovery; challenges that may arise in connection with the integration of new businesses or assets we acquire or the disposition of assets; issues unique to government contracting, such as competitive bidding processes, qualification requirements, and delays or changes in funding; disruptions within our dealer network; changes in our relationships with major customers, suppliers, or other business partners, including Isuzu; changes in the demand or supply of products within our markets or raw materials needed to manufacture those products; and changes in laws and regulations affecting our business. Other factors that could affect outcomes are set forth in our Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission (SEC), which are available at www.sec.gov or our website. All forward-looking statements in this release are qualified by this paragraph. Investors should not place undue reliance on forward-looking statements as a prediction of actual results. We undertake no obligation to publicly update or revise any forward-looking statements in this release, whether as a result of new information, future events, or otherwise.
CONTACT: Russell T. Chick
Corporate Director of Marketing
Spartan Motors, Inc.
517.997.3852
Spartan Motors, Inc.
