Spartan Chassis Expands Manufacturing Capacity With Two Additional Plants
09 Abril 2007 - 4:15PM
PR Newswire (US)
CHARLOTTE, Mich., April 9 /PRNewswire/ -- Spartan Chassis, Inc., a
subsidiary of Spartan Motors, Inc. (NASDAQ:SPAR), announced the
purchase of two manufacturing facilities near its headquarters in
Charlotte, Mich. The facilities, which total 80,000 square-feet,
will help Spartan meet anticipated increased demand from its
military customers to supply and integrate key chassis components
for Mine Resistant Ambush Protected (MRAP) vehicles, while also
creating capacity at Spartan's other facilities for fire truck and
motorhome chassis production. "We are growing our overall capacity
to meet the sustained demand we are seeing for our specialty
chassis products," said Richard Schalter, president of Spartan
Chassis. "Along with our newly constructed 107,000-square-foot fire
truck cab and chassis facility, the new facilities will allow us to
grow market share for existing products, while also introducing new
products." Spartan Motors reported it plans to spend $8 million to
purchase and renovate the facilities, and expects the two recently
purchased facilities to be operational in the third quarter of
2007. "Our recent capacity additions are improving efficiency at
Spartan Chassis, as we can better specialize and focus production
within a facility on just RV, fire truck or specialty vehicle
products," said John Sztykiel, president and CEO of Spartan Motors.
"Overall, the dynamic of added capacity and efficiency will help us
grow as we focus on becoming the premier manufacturer of specialty
vehicles and chassis in North America." The MRAP 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. According to U.S. government reports, roadside
bombs and IEDs account for 70 percent of U.S. deaths and injuries
in Iraq. 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 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. DATASOURCE:
Spartan Chassis, Inc. CONTACT: Karen Hildebrant of Spartan Chassis,
Inc., +1-517-543-6400, ext. 3111; or Ryan McGrath or Jeff Lambert,
+1-616-233-0500, of Lambert, Edwards & Associates
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