CHARLOTTE, Mich., Aug. 2, 2012 (GLOBE NEWSWIRE) — Spartan Motors, Inc. (Nasdaq:SPAR) (“Spartan” or the “Company”) today reported that its Utilimaster subsidiary has received an additional order for its revolutionary Reach walk-in van. Demand with major fleets continues to be positive as UPS (NYSE:UPS) announced an additional order for 150 new vehicles.
“The attractive value proposition offered by the Reach is highlighted by this additional order from UPS. This represents an important milestone as we work to realize the long-term opportunities for Reach. As UPS has demonstrated with the Reach, it is possible to achieve improved vehicle performance while meeting a number of green/sustainability goals,” said John Forbes, President of Utilimaster.
The Reach offers several advantages over a traditional walk-in van, including greater maneuverability, improved ingress and egress, nearly 1000 lbs. lower weight and improved fuel efficiency of up to 40% through the use of advanced, lightweight composites/recycled materials, all combined with great looks.
Spartan recently transferred production of the Reach from Utilimaster’s Wakarusa, Indiana facility to Spartan’s Charlotte, Michigan campus, as previously announced. The Company has set up a dedicated production facility within the Charlotte campus where the where it also manufactures the gasoline-powered Isuzu NPR and NPR-HD, America’s # 1 selling Low Cab Forward Truck.
About Spartan Motors
Spartan Motors, Inc. designs, engineers and manufactures specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle, emergency response, government services, defense, and delivery and service markets. The company’s brand names – Spartan™, Spartan ERV™ and Utilimaster® – are known for quality, performance, service and first-to-market innovation. The company employs approximately 1,600 associates at facilities in Michigan, Pennsylvania, South Dakota, Indiana, Florida and Texas. Spartan reported sales of $426 million in 2011 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.
About Utilimaster
Utilimaster, a subsidiary of Spartan Motors, Inc. (Nasdaq:SPAR), is a leading manufacturer of walk-in vans and commercial truck bodies for the delivery and service market place. Utilimaster designs, develops and manufactures products to customer specifications for use in the package delivery, one-way truck rental, bakery/snack delivery, utility and linen/uniform rental businesses. The company serves a diverse customer base and also sells aftermarket parts and accessories. Visit Utilimaster at www.utilimaster.com.
About Isuzu
Isuzu Motors Limited is one of the world’s largest manufacturers of medium- and heavy-duty trucks. Since building its first truck in 1918, Isuzu has sold over 26 million trucks worldwide. Among its innovations are the first air-cooled diesel engine in 1936, the first two-ton low-cab-forward truck in 1959, and the first direct-injection diesel engine.
Headquartered in Anaheim, California, Isuzu Commercial Truck of America, Inc. (ICTA), is the distributor of Isuzu commercial vehicles in the United States. Isuzu commercial trucks have been the best-selling low-cab-forward trucks in America every year since 1986. For more information, call (866) 441-9638 or visit www.isuzucv.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: Media:
Russell Chick, Director of Marketing
Spartan Motors, Inc.
(517) 543-6400
Analysts:
Greg Salchow, Director IR & Treasury
Spartan Motors, Inc.
(517) 543-6400
Spartan Motors, Inc.