Supreme Industries Announces Definitive Agreement to Divest Shuttle-Bus Assets

  Supreme Industries Announces Definitive Agreement to Divest Shuttle-Bus

Business Wire

GOSHEN, Ind. -- February 28, 2014

Supreme Industries, Inc. (NYSE MKT: STS), a leading manufacturer of
specialized commercial vehicles including truck bodies and specialty vehicles,
today announced a definitive agreement has been reached to sell the Company’s
shuttle-bus assets to Forest River, Inc.

In December 2013, management announced Supreme would exit the shuttle-bus
business and divest the associated assets. This action is consistent with the
Company’s previously disclosed long-term strategy of focusing on its core work
truck and specialty vehicle markets. Net proceeds from the sale of assets are
estimated to be approximately $7 million dependent upon sales of buses prior
to close. A modest gain on the sale is anticipated and the proceeds will be
used to fund a series of topline growth initiatives, capital expenditures and
margin expansion projects. The transaction is expected to close within thirty

“We are pleased to have reached a mutually beneficial agreement for the sale
of our shuttle-bus assets to Forest River,” stated Mark D. Weber, Supreme’s
president and chief executive officer.

“The bus market has become increasingly competitive and this business has been
unable to achieve our profitable growth objectives,” he added. “This
divestiture allows us to concentrate our resources on growing our work truck,
specialty vehicle and trolley businesses.”

Forest River, Inc., an Indiana-based Berkshire Hathaway Company, manufactures
a full line of transit buses, shuttle buses and tour coaches.

About Supreme Industries
Supreme Industries, Inc. (NYSE MKT: STS), is a nationwide manufacturer of
truck bodies and specialty vehicles produced to the specifications of its
customers. The Company's transportation equipment products are used by a wide
variety of industrial, commercial and law enforcement customers.

News releases and other information on the Company are available on the
Internet at: or


Supreme Industries, Inc.
Investor and Media Contact:
Matthew J. Dennis, CFA, 574-228-4130
Supreme Investor Relations
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