Spartan Motors Adds Richard R. Current to Board of Directors
July 24 2008 - 7:55AM
PR Newswire (US)
CHARLOTTE, Mich., July 24 /PRNewswire-FirstCall/ -- Spartan Motors,
Inc. (NASDAQ:SPAR) today announced its board of directors has
increased the size of the board from seven to eight members and
elected Richard R. Current, vice president and chief financial
officer of Neogen Corporation, to the board. Current will serve as
an independent director and on the audit committee. "Rick brings 40
years of financial experience to Spartan's board," said David R.
Wilson, chairman of Spartan Motors. "His experience at Neogen, a
public company which has experienced 20 percent annual sales growth
since he joined in 1999, is valuable to Spartan, especially given
our rapid growth over the last several years. He has experience in
global markets, as 38 percent of Neogen's revenue was from outside
the U.S. in 2007. He also played a significant role in Neogen's 13
accretive acquisitions since 2000. We expect all of this experience
will serve Spartan's stakeholders extremely well." Current, a
certified public accountant, has served as vice president and chief
financial officer of Lansing, Mich.-based Neogen Corporation since
1999. Prior to this position, Current was executive vice president
and chief financial officer for Farmington Hills, Mich.-based
Integra Vision, Inc. from 1995 to 1999, and vice president and
chief financial officer for Hillsdale, Mich.-based The Shane Group
for three years. From 1968 to 1992, Current was with Ernst &
Young, becoming managing partner of its Lansing, Mich. office in
1986. Current earned a MBA and BBA degree from Western Michigan
University. Current is on the boards of directors and audit
committees of Lansing, Mich.-based Fincor Holdings, Inc., and East
Lansing, Mich.-based Summit Community Bank. About Spartan Motors
Spartan Motors, Inc. ( http://www.spartanmotors.com/ ) designs,
engineers and manufactures custom chassis and vehicles for the
recreational vehicle, fire truck, ambulance, emergency-rescue and
specialty vehicle markets. The Company's brand names --
Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road
Rescue(TM) -- are known for quality, value, service and being the
first to market with innovative products. The Company employs
approximately 1,500 at facilities in Michigan, Pennsylvania, South
Carolina, and South Dakota. Spartan reported sales of $681.9
million in 2007 and is focused on becoming the premier manufacturer
of specialty vehicles and chassis in North America. This release
contains forward-looking statements, including, without limitation,
statements concerning our business, future plans and objectives and
the performance of our products. These forward-looking statements
involve certain risks and uncertainties that ultimately may not
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Technical
complications may arise that could prevent the prompt
implementation of the plans outlined above. The company cautions
that these forward-looking statements are further qualified by
other factors including, but not limited to, those set forth in the
company's Annual Report on Form 10-K filing and other filings with
the United States Securities and Exchange Commission (available at
http://www.sec.gov/ ). Government contracts and subcontracts
typically involve long payment and purchase cycles, competitive
bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations
and milestone requirements. An announced award of a governmental
contract is not equivalent to a finalized executed contract and
does not assure that orders will be issued and filled. Government
agencies also often retain some portion of fees payable upon
completion of a project and collection of contract fees may be
delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no
obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or
otherwise, except as required by law. DATASOURCE: Spartan Motors,
Inc. CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, Spartan
Motors, Inc., +1-517-543-6400; Jeff Lambert or Ryan McGrath,
Lambert, Edwards & Associates, Inc., +1-616-233-0500, Web site:
http://www.spartanmotors.com/
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