Bus

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

Google launches carpooling app using Waze

Will use Waze’s navigation system to identify which routes cars take most often, and try to pair drivers with people looking to travel to the same destinations.

200 more countdown clocks coming new N.Y. bus stops

So far, just five bus stops in Brooklyn, Manhattan and Staten Island provide arrival times, though smartphone-equipped riders can track their bus on transit apps and the MTA’s Bus Time feature.

Denver RTD unveils its Flatiron Flyer BRT vehicle

The Flatiron Flyer buses, which were supplied by MCI and can carry 57 passengers each, are specially branded with a unique blue-and-sunrise-orange paint scheme designed by RTD and a U.S. 36 corridor stakeholder group.

Safe Fleet acquires Hadley's bus, motorcoach mirror product lines

The Hadley mirror business will remain in Elkhart, Ind., but will relocate from the Hadley site to its own production facility over the next few months. The management, engineering, customer service, administrative and production personnel of the Hadley mirror business will remain with the business and transition to Safe Fleet.

BusCon returns to Indy

Each year, more and more people look forward to BusCon as a chance to network, learn about new trends and technology, and gain the tools that are necessary to revitalize the way they tackle their own operations.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 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