Recent Contract Second Largest Military Chassis Order in Company History
CHARLOTTE, Mich., Jan. 23 /PRNewswire-FirstCall/ — Spartan Chassis, Inc.,
a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), today announced it has
received a subcontract order from Force Protection, Inc. to supply and
integrate key chassis components and assist in the manufacturing of 155
Cougars for use by the U.S. Marine Corps.
The order placed with Spartan Chassis by Force Protection, a Charleston,
S.C.-based manufacturer of ballistic and mine-protected military vehicles, is
worth $23.7 million. The contract is the second largest military chassis order
for Spartan since it began supporting military defense efforts in 2005.
“Spartan Chassis is once again honored to be able to provide our specialty
vehicle expertise to Force Protection,” said Richard Schalter, president of
Spartan Chassis. “This continued partnership significantly contributes to the
compelling need of protecting the lives of those U.S. men and women that will
utilize these vehicles, which are known for the unmatched level of troop
safety they provide.”
The prime procurement contract for approximately 200 vehicles, worth an
estimated $214 million, was awarded to Force Protection by the U.S. Marine
Corps and will be administered by the Marine Corps System Command.
The Cougar is a medium-sized, blast-protected vehicle produced in both
four- and six-wheel configurations. The vehicle’s V-shaped hull is designed to
deflect the force of explosions away from passengers inside the armored hull.
It can be customized for multiple tasks including urban patrol, route
clearance support, troop transport, mine and explosive ordnance disposal,
command and control, reconnaissance and as a lead convoy vehicle.
Force Protection’s Buffalo and Cougar mine-protected vehicles have been
deployed with U.S. and Allied forces since 2003 and have logged more than 1.6
million hours of combat operations in Iraq and Afghanistan.
Pictures of the Cougar Armored Vehicle are available for download at
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 $343.0
million in 2005 and is focused on becoming the premier manufacturer of
specialty vehicles and chassis in North America.
About Force Protection, Inc.:
Force Protection, Inc. (Nasdaq: FRPT) manufactures ballistic- and mine-
protected vehicles through its wholly owned subsidiary. These specialty
vehicles are protected against landmines, hostile fire, and Improvised
Explosive Devices (IEDs, commonly referred to as roadside bombs). Force
Protection’s mine and ballistic protection technologies are among the most
advanced in the world. The vehicles are manufactured outside Charleston, S.C.
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.
SOURCE Spartan Chassis, Inc.
CONTACT: Karen Hildebrant of Spartan Chassis, Inc.,
+1-517-543-6400 ext. 3111; or Ryan McGrath or Jeff Lambert of Lambert, Edwards
& Associates, Inc., +1-616-233-0500, both for Spartan Chassis, Inc.
Web site: http://www.spartanchassis.com/PRESS/default.asp