Spartan Chassis Secures New Military Vehicle Orders
06 Marzo 2007 - 6:59AM
PR Newswire (US)
CHARLOTTE, Mich., March 6 /PRNewswire-FirstCall/ -- Building on its
growing expertise in specialty vehicles, Spartan Chassis, Inc., a
subsidiary of Spartan Motors, Inc. (NASDAQ:SPAR), today announced
it has received $16.4 million in subcontract orders for new
military vehicles -- its second largest order announcement in 2007.
Under the new subcontracts, Spartan Chassis will supply and
integrate key chassis components in the production of 155 advanced
tactical wheeled vehicles under the Mine Resistant Ambush
Protected, or MRAP, program. The vehicles, which will be used by
U.S. Marines and soldiers, are being built under contracts with two
leading U.S. defense manufacturers. "We are again gratified to lend
our expertise in helping to protect U.S. Marines and soldiers who
are stationed in harm's way," said Richard Schalter, president of
Spartan Chassis. "Spartan Chassis has been able to successfully
translate the technology, performance and durability built in to
each of our premium fire truck, specialty and RV chassis to the
military vehicles we supply. "The MRAP vehicles currently in
service have a proven track record of performance. We are honored
to be among the suppliers committed to providing products that
safeguard the lives of our servicemen and women." Spartan Chassis
will provide chassis and components for 80 Category I 4x4 units and
75 Category II 6x6 units under the MRAP program, which is expected
to build up to 4,100 vehicles at a total cost of $2 billion. To
date, U.S. Marines are using more than 60 MRAP vehicles in Iraq.
The vehicles are designed to protect their occupants from a
combination of mines, rocket- propelled grenades, or RPGs, and
improvised explosive devices, or IEDs, through their V-shaped hull,
raised chassis and improved armor. 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. DATASOURCE: 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, for Spartan
Chassis, Inc.
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