Spartan Chassis recieves $52M subcontract order
Spartan Chassis, Inc. (Nasdaq: SPAR), a subsidiary of Spartan Motors, Inc. reported today that it secured a $52 million subcontract order with Force Protection, Inc. to support the production of Cougar series advanced tactical wheeled vehicles.
The Michigan-based firm said it will supply and incorporate chassis components for the vehicles, which are scheduled for use by the U.S. military, by March 2008.
The new order brings Spartan’s custom chassis manufacturer's total 2007 subcontract awards for MRAP vehicles to approximately $317 million, more than triple its military subcontract orders in all of 2006.
Shares of Spartan Motors (SPAR) jumped $1.29, or 7.57%, to $18.32 in pre-market trading.
