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

Diamond Coach unveils 'largest composite coach' for mid-size market

The VIP 3500 F-550 offers the largest passenger rating, carrying up to 36 passengers including co-pilot.

CTA to pilot all-door boarding on two bus routes

Has the potential to reduce boarding times by as much as 50% and improve the overall customer experience.

COTA ridership highest in 31 years

The agency continues to see increases in ridership as the national trend shows declines in public transportation.

Biz News: New Flyer lands contract, Q'STRAINT forms partnership

Oregon is the latest to approve the company for a statewide contract, while tradeshows will be the focus of a new strategic partnership.

Student ridership doubles on SacRT

The City of Sacramento provided SacRT with $1 million, as well as additional funds from other cities and school districts to counter revenue loss for the year-long RydeFreeRT program.

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 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