Supreme Industries Inc., a manufacturer of specialized truck bodies, armored vehicles and trolleys, intends to divest its shuttle-bus business, the company reported.
Supreme's shuttle-bus products represent less than 12% of consolidated sales, and they harmed earnings in 2013, the Goshen, Ind.-based company said.
"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," CEO Mark Weber said in a statement. "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."
The divestiture is intended to further expand profit margins on a consolidated basis.
By Light & Medium Truck
