Supreme Industries, Inc., a manufacturer of specialized commercial vehicles including truck bodies, trolleys, armored and specialty vehicles, announced Wednesday it intends to divest its shuttle-bus business.
Following successful facility upgrades supporting its manufacturing and customized truck bodies sales businesses, the company says its shuttle bus products represent less than 12 percent of consolidated sales and had a negative impact on earnings this year.
“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,” says President and Chief Executive Officer 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.”
