CHARLOTTE, Mich., Nov. 30 /PRNewswire-FirstCall/ — Spartan Motors Chassis, Inc., a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), today announced an expanded three-year agreement for the design, manufacturing and assembly of custom chassis in support of Fleetwood RV’s high-quality brand of Class A diesel recreational vehicles, including American Coach products.
Tom Gorman, COO of Spartan Motors, said, “This agreement extends a strategic partnership made up of two strong brands that together, produce a quality product that exceeds customer expectations. This brings us to a pivotal point in our business relationship with Fleetwood RV, where we can now focus on product differentiation and maximizing opportunities in the marketplace for both companies.”
The current agreement extends Spartan Chassis’ previous agreement with Fleetwood RV announced September 23, 2009.
“The decision to extend our partnership with Spartan was an easy one,” said Chuck Wilkinson, CEO. “Spartan’s commitment to its product and to Fleetwood will create real business value in a market that is displaying very promising signs.”
Per the agreement, the two companies will work collaboratively to enhance the design and effective integration of their products. In addition, Fleetwood will leverage Spartan’s “Coach-Ready” concept to add greater value to their manufacturing process. Introduced by Spartan in 2001, the innovative Coach-Ready platform incorporates additional components installed ‘below the floor’ of the chassis, virtually eliminating rework or preparation by the OEM. In addition to saving time and money, the new platform will allow Fleetwood to focus even more on the interiors and exteriors of the units.
About Spartan Motors Chassis, Inc.
Spartan Motors Chassis, Inc., a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), is a leading developer and manufacturer of custom chassis for recreational vehicles, fire trucks, defense and specialty vehicles. Spartan Motors (theshyftgroup.com) which also manufactures emergency rescue vehicles under the brand names of Crimson Fire, Crimson Fire Aerials and Road Rescue, reported sales of $844.4 million in 2008 and is focused on becoming the premier manufacturer of specialty vehicles and chassis in North America.
About Fleetwood RV, Inc.
Fleetwood RV, Inc. (“Fleetwood RV” or the “Company”) is a leading manufacturer of Class A and Class C recreational vehicles. The Company has one of the best and longest standing distribution networks in the industry and boasts some of the industry’s most recognized and iconic brand names such as American Coach and Bounder. Fleetwood RV is headquartered in Decatur, Ind., which is also its principal manufacturing location. The Company also owns Goldshield Fiberglass, Inc., an industry leader in custom molded composite products across a variety of industries including heavy truck and RV.
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 Motors Chassis, Inc.
Karen Hildebrant, Spartan Chassis, Inc., +1-517-543-6400; or Heather Everett, Fleetwood RV, Inc., +1-951-351-3691
