Supreme to divest shuttle-bus business

Posted on January 8, 2014

Supreme Industries Inc., a leading manufacturer of specialized commercial vehicles including truck bodies, trolleys, armored and specialty vehicles, announced that it intends to divest its shuttle-bus business.

RELATED: "Supreme's upgraded bus plant fully operational."

Supreme's core business of manufacturing and selling customized truck bodies has recently undergone successful facilities and manufacturing upgrades resulting in enhanced operating efficiencies and margins for these products, according to the company.

Shuttle bus products currently represent less than 12% of the company's consolidated sales and had a materially adverse impact on consolidated earnings in 2013. The divestiture is intended to further expand profit margins on a consolidated basis.

“As a proportion of revenue mix, bus products have represented a declining percentage of our sales and shuttle buses, in particular, have failed to meet profitability objectives,” said President/CEO Mark Weber. “This action allows us to concentrate on markets where we can maximize future returns for shareholders and eliminate the substantial drag on earnings from the shuttle bus business.”

“We remain committed to the trolley business,” he added. “Furthermore, to avoid disruptions for our shuttle-bus customers, we plan to assist the future owners with a swift and orderly transition. This approach will optimize the value of the business and benefit all constituents including the new owners, customers and employees.”

Additional information will be provided when the Supreme releases its fourth-quarter and full-year 2013 financial results in February.

View comments or post a comment on this story. (0 Comments)

More News

Fla.'s JTA sets launch date for new BRT service

The 9.4 mile Green Line on the North Corridor will feature direct, high-frequency service; 18 branded stations; complimentary Wi-Fi, a Park-n-Ride lot, and real-time bus arrival information.

Canadian bus service to block Internet streaming

Some customers have reported slow internet service, while others couldn't connect at al, due to Internet streaming issues.

Nova Bus names new east coast regional sales manager

Prior to joinging Nova, John Manzi served as eastern regional transit sales manager for a major transmission manufacturer.

Shuttle, circulator routes drawing thousands of riders in Miami

These services carried more than eight million passengers last year in 27 municipalities and are praised by riders and public officials alike as successful transit programs.

Calif.'s VVTA unveils Google trip planner update, web app

VVTA staff coordinated with the county and cities to maintain route and stop accuracy throughout the release cycle. Meeting the needs of the many departments at each agency added to the complexity of the project.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close