CHARLOTTE, Mich., July 24 /PRNewswire-FirstCall/ — Spartan Motors, Inc.
(Nasdaq: SPAR) today announced its board of directors has increased the size
of the board from seven to eight members and elected Richard R. Current, vice
president and chief financial officer of Neogen Corporation, to the board.
Current will serve as an independent director and on the audit committee.
“Rick brings 40 years of financial experience to Spartan’s board,” said
David R. Wilson, chairman of Spartan Motors. “His experience at Neogen, a
public company which has experienced 20 percent annual sales growth since he
joined in 1999, is valuable to Spartan, especially given our rapid growth over
the last several years. He has experience in global markets, as 38 percent of
Neogen’s revenue was from outside the U.S. in 2007. He also played a
significant role in Neogen’s 13 accretive acquisitions since 2000. We expect
all of this experience will serve Spartan’s stakeholders extremely well.”
Current, a certified public accountant, has served as vice president and
chief financial officer of Lansing, Mich.-based Neogen Corporation since 1999.
Prior to this position, Current was executive vice president and chief
financial officer for Farmington Hills, Mich.-based Integra Vision, Inc. from
1995 to 1999, and vice president and chief financial officer for Hillsdale,
Mich.-based The Shane Group for three years. From 1968 to 1992, Current was
with Ernst & Young, becoming managing partner of its Lansing, Mich. office in
1986.
Current earned a MBA and BBA degree from Western Michigan University.
Current is on the boards of directors and audit committees of Lansing,
Mich.-based Fincor Holdings, Inc., and East Lansing, Mich.-based Summit
Community Bank.
About Spartan Motors
Spartan Motors, Inc. ( theshyftgroup.com ) designs, engineers and
manufactures custom chassis and vehicles for the recreational vehicle, fire
truck, ambulance, emergency-rescue and specialty vehicle markets. The
Company’s brand names — Spartan(TM), Crimson Fire(TM), Crimson Fire
Aerials(TM), and Road Rescue(TM) — are known for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 1,500 at facilities in Michigan, Pennsylvania, South Carolina,
and South Dakota. Spartan reported sales of $681.9 million in 2007 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 Motors, Inc.
07/24/2008
CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, Spartan Motors, Inc.
+1-517-543-6400; Jeff Lambert or Ryan McGrath, Lambert, Edwards & Associates
Inc.,+1-616-233-0500, [email protected]
Web site: https://theshyftgroup.com
(SPAR)