August 3, 2007 -- Spartan Chassis Inc., a unit of automotive chassis maker Spartan Motors Inc., said it received a $28 million subcontract from a unit of General Dynamics Corp. to supply components to produce mine resistant vehicles. Shares of Charlotte, Michigan-based Spartan Motors were up more than 6 percent at $12.86 in morning trade on the Nasdaq. The vehicles will be made under the Mine Resistant Ambush Protected, or MRAP, program, and will be used by all branches of the U.S. military, Spartan Chassis said in a statement. MRAP vehicles help protect service personnel from explosive devices, mines and other hazards of war. Spartan Chassis added that the vehicles under this order are scheduled to be completed by the end of November.
Source: Reuters News
Source: Factiva
