Spartan Motors Announces Sale of Wakarusa, Indiana Facility
07 Enero 2013 - 4:57PM
Spartan Motors, Inc. (Nasdaq:SPAR) ("Spartan" or the "Company")
today announced the sale of the majority of its Wakarusa, Indiana
facility to Forest River, Inc., a Berkshire Hathaway Company. This
transaction was pursuant to Spartan's announcement on Feb. 14, 2012
that it will relocate the Company's Utilimaster operations to
Bristol, Indiana from Wakarusa, Indiana. All terms of the
transaction were in line with previously disclosed estimates.
"The sale of the Wakarusa facility represents an important step
in the transition of Utilimaster's operations to Bristol," said
John Sztykiel, President and CEO of Spartan Motors, Inc. "As we
finalize the move and ramp up production, we expect the new, modern
plant to support Utilimaster's long-term growth and enable us to
achieve our potential in Delivery and Service Vehicles."
The move to Bristol, located 20 miles East of Wakarusa, will
consolidate Utilimaster's operations into one facility from its
current campus of 16 buildings. Moving into a single plant,
combined with lean manufacturing practices, will help enable
Utilimaster to improve product quality and manufacturing efficiency
by reducing operating costs and eliminating non-value-added
steps.
About Spartan Motors
Spartan Motors, Inc. www.spartanmotors.com designs, engineers
and manufactures specialty chassis, specialty vehicles, truck
bodies and aftermarket parts for the recreational vehicle (RV),
emergency response, government services, defense, and delivery and
service markets. The Company's brand names – Spartan™, Spartan
Chassis™, Spartan ER™, Spartan ERV™ and Utilimaster® – are known
for quality, performance, service and first-to-market innovation.
The Company employs approximately 1,800 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
www.spartanmotors.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; restructuring of our
operations, and/or our expansion into new geographic markets;
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: Russell Chick
Corporate Director of Marketing
Spartan Motors, Inc.
(517) 543-6400
Greg Salchow, Director IR & Treasury
Spartan Motors, Inc.
(517) 543-6400
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