BRISTOL, Ind., March 31, 2014 (GLOBE NEWSWIRE) -- Utilimaster, a subsidiary of Spartan Motors, Inc. (Nasdaq:SPAR), announced today that it received an additional 670 unit fleet order of its revolutionary Reach commercial van.
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"The Reach is a high performance commercial van that delivers value to our customers by providing long-term durability and superior fuel efficiency," said John Forbes, President of Utilimaster. "This order is another significant validation of the Reach and we are optimistic this momentum will continue."
Maintenance and safety were a major focus of the engineering team at Utilimaster. Collision damage, in many cases, can be repaired in less than 30 minutes due to the quick-mount lower body cladding. Safety features include highly visible steps with slip-resistant carbide treads and three points of contact at all entries. The Reach also delivers unmatched maneuverability and is up to six times quieter than competitive products.
"The Reach is a key addition to our portfolio and is a result of the strategy to extend our core business with innovation that redefines product categories. This large order is another validation of the Reach value story," said Forbes.
Over the life the vehicle, the Reach van with its four-cylinder, 3.0-liter Isuzu diesel engine demonstrates a 35% fuel efficiency improvement over competitive products in the fleet. Replacing a walk-in van driven 20,000 miles per year with the Reach can save 1,000 gallons of diesel fuel and reduce carbon dioxide emissions by more than 11 tons every year.
Production of the order will begin in Q2 2014, with an order completion of later this calendar year.
About Utilimaster
Utilimaster, a subsidiary of Spartan Motors, Inc. (Nasdaq:SPAR), is a leading manufacturer of walk-in vans and commercial truck bodies for the delivery and service marketplace. Utilimaster designs, develops and manufactures products to customer specifications for use in the package delivery, one-way truck rental, bakery/snack delivery, utility and linen/uniform rental businesses. The company serves a diverse customer base and also sells aftermarket parts and accessories. Visit Utilimaster at www.utilimaster.com.
About Spartan Motors
Spartan Motors, Inc. 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 1,700 associates at facilities in Michigan, Pennsylvania, South Dakota, Indiana and Florida. Spartan reported sales of $470 million in 2013 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.
