Spartan ERV Forms Joint Venture With Gimaex to Accelerate Global Growth and
JV Expands Scope of Existing Relationship and Pace of Innovation
CHARLOTTE, Mich., Nov. 12, 2012 (GLOBE NEWSWIRE) -- Spartan ERV (Emergency
Response Vehicles), a business unit of Spartan Motors, Inc. (Nasdaq:SPAR) and
Gimaex today announced the formation of a formal Joint Venture ("JV") to be
organized under a new Limited Liability Company incorporated in Delaware. The
JV exists to combine the complementary skills, resources and capabilities of
Gimaex and Spartan ERV on agreed projects to develop, manufacture and
distribute innovative products to Fire Service markets in North America, South
America, Asia, and Europe.
This 50/50 JV will leverage the complementary footprints, capabilities,
brands, technologies and product portfolios of the two companies. The scope of
the JV will encompass technology sharing, joint product development,
commercial agreements and additional purchasing clout, as well as leveraging
development and build costs. Finally, Spartan and Gimaex have complementary
geographic, engineering and production footprints that will enable both
companies to amass a true global presence.
The Spartan ERV / Gimaex relationship was initially formed in April 2012 as an
alliance. The scope of the initial collaboration included two products -
TelStar and a crossover pumper. TelStar is the largest (138 ft.) telescopic
and articulated aerial platform available in North America and is uniquely
designed and engineered with All Call capabilities. The crossover pumper is a
Concept Chassis, code named the RXO, that can fulfill both structural and
Wildland fire needs. The RXO was configured on a Renault Truck Chassis with a
Gimaex body, CAFS and a host of other market-leading innovations which elevate
the performance and safety levels afforded the firefighter.
"We are very pleased with our combined ability to execute in the marketplace,"
said Dennis Schneider, the Spartan ERV/Gimaex JV Managing Partner and
President of Spartan ER. "Just last week, we celebrated a TelStar sales
milestone in South America. This is proof positive of our combined ability to
cultivate global business and develop market-leading technologies which
deliver incremental revenue to both companies."
The Spartan / Gimaex JV is a clear execution of strategy.In April 2012,
Spartan announced a global growth strategy in emergency response. The
corporate growth plan at Spartan Motors consists of three elements: organic
growth, growth through acquisitions and growth through alliances/joint
"The diversity of needs facing the global fire service continues to increase.
The combined technical competencies resident in the joint venture will enable
us to collectively provide a much broader set of purposeful and cost-effective
solutions," said Louis Devaleix, Chief Executive Officer, Gimaex Americas.
"Our combined market knowledge and geographic footprints are remarkably
complementary and this together with the speed to market we demonstrated in
launching the TelStar leaves us very optimistic from a business development
About Spartan ERV
Spartan ERV™ is a leading manufacturer of custom fire trucks and other rescue
vehicles.A business unit of Spartan Motors, Inc. (Nasdaq:SPAR), Spartan ERV™
is committed to quality, performance and innovation.Drawing on more than 130
years of excellence in fire truck manufacturing, Spartan ERV™ manufactures a
full line of pumpers, tankers, rescues, aerials, quick-attack/urban interface
vehicles and other emergency-rescue vehicles from its facilities in Florida,
Pennsylvania and South Dakota.For more information, visit www.spartanerv.com.
About Spartan Motors
Spartan Motors, Inc. designs, engineers and manufactures specialty chassis,
specialty vehicles, truck bodies and aftermarket parts for the recreational
vehicle, emergency response, government services, defense, and delivery and
service markets. The company's brand names – Spartan™, Spartan ERV™ and
Utilimaster® - are known for quality, performance, service and first-to-market
innovation. The company employs approximately 1,700 associates at facilities
in Michigan, Pennsylvania, South Dakota, Indiana, Florida and Texas. Spartan
reported sales of $426 million in 2011 and is focused on becoming a global
leader in the design, engineering and manufacture of specialty vehicles and
chassis. Visit Spartan Motors at www.spartanmotors.com
Gimaex is leading manufacturer of fire apparatus. Headquartered in Paris,
France, Gimaex maintains manufacturing facilities in France, Germany, Belgium,
Turkey and Brazil. Non-manufacturing facilities and distribution networks can
be found in the USA, China, Southeast Asia, Middle East, Oceania and Africa.
The Gimaex product portfolio of fire apparatus includes aerial devices (both
articulated and hydraulic), rear mount pumpers, wildland/forestry, HAZMAT/NBCD
(Nuclear Bacteriological and Chemical Detection), air crash tenders, mobile
command centers and rescue vehicles.Gimaex is a privately held company with
estimated annual turnover in 2012 of $110 Million (USD). Gimaex employs over
420 associates worldwide and manufacturers over 1,000 vehicles per annum.
Visit Gimaex at http://www.gimaex.com/?Mod1=home
CONTACT: Russell T. Chick
Corporate Director of Marketing
Spartan Motors, Inc.
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