Spartan Receives Subcontracts from BAE Systems
Jun 10, 2010 12:43 PM
Spartan Motors Chassis, Inc., a subsidiary of Spartan Motors, Inc. (Nasdaq: SPAR), has been awarded multiple subcontract orders in excess of $27 million from defense contractor BAE Systems, to support the production of advanced tactical vehicles under the Medium Mine Protected Vehicle (MMPV) program.
John Sztykiel, President and CEO of Spartan Motors, said: "These subcontracts provide validation that Spartan has a definitive role in the defense business. Spartan clearly possesses the agility to efficiently and effectively provide major customers like BAE Systems with the high-quality, unique components needed to produce mission capable, yet life-saving, vehicles."
Under the terms of the MMPV subcontract, the Michigan-based custom chassis manufacturer will supply to BAE Systems, powertrain kits and components to support the production of the vehicles at Letterkenny Army Depot located in Pennsylvania. This subcontract is to begin in June 2010 and be completed by the end of the first quarter 2011.
Sztykiel added: "Smaller contracts such as these are in direct alignment with Spartan's strategic and operational strengths. Spartan is known and has been publicly recognized for its reliability, speed of manufacturing, and effectively supporting customer needs related to parts and assemblies."
In addition to this new award, Spartan also continues its ongoing support of MRAP prime contractors and the U.S. Government by providing spare/replacement parts for many of the MRAP vehicles built at Spartan since 2005.
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