CHARLOTTE, Mich., Dec. 3, 2012 (GLOBE NEWSWIRE) — Spartan Chassis, a unit of Spartan Motors, Inc. (Nasdaq:SPAR), announced today that it has been awarded a subcontract order from defense contractor BAE Systems to support continued production of the International Light Armored Vehicles (ILAV’s) – a threat-specific mine-protected vehicle. The subcontract award includes an initial order of 24 ILAVs that will begin shipping in Q2 2013 and was issued as a three-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract, providing for the possibility of follow-on orders.
These vehicles perform specialized, mission-critical tasks such as supporting convoy operations, executing ordnance removal and disposal or extracting injured soldiers. Under the terms of the subcontract, the Spartan Defense and Government (SDG) Business Unit of Spartan Chassis, the Michigan-based specialty vehicle manufacturer, will supply and fully integrate automotive chassis and deliver final assembled ILAVs to the Tank and Automotive Command as part of their Foreign Military Sales program.
“This is an affirmation of Spartan’s opportunity and continued role in the evolving Defense marketplace,” said Tom Gorman, Chief Operating Officer, Spartan Motors. “The Spartan Chassis team has consistently performed to the exacting standards of BAE Systems and the Defense Department as evidenced by this contract award and our ISO 9001:2008 certification. We are proud to support the ILAV program and all of our coalition partners who protect freedom day-in and day-out.”
In addition to this award, Spartan Chassis continues its ongoing support of prime contractors and the U.S. Government by providing spare/replacement parts for many of the mine-protected vehicle models produced at Spartan since 2005 such as:
About Spartan Chassis, Inc.
Spartan Chassis, Inc. is a world-class leader in the engineering, manufacturing and marketing of chassis and aftermarket parts for emergency-response, recreational vehicle (RV), defense and specialty vehicles. End users recognize and request the Spartan Chassis brand, which consistently delivers superior performance, exceptional safety ratings and innovations which distinguish us from the competition. Visit Spartan Chassis at spartanchassis.com.
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 1,700 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; 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 T. Chick Corporate Director of Marketing Spartan Motors, Inc. 517.997.3852
Spartan Motors, Inc.