The Shyft Group's Utilimaster Secures $53 Million Add-On Truck Body Contract From United States Postal Service
Utilimaster has secured a $53 million contract from the United States Postal Service for 447 truck bodies to enhance bulk mail delivery. This award follows a $214 million contract completed in 2019 for over 2,000 vehicles. The new order will be manufactured between the second quarter of 2022 and 2023 and will feature vehicles on cab-over and cab-behind chassis. Utilimaster, part of The Shyft Group (NASDAQ: SHYF), is recognized for its quality and custom solutions in the specialty vehicle market.
- Secured a $53 million contract with USPS for 447 truck bodies, boosting future revenue.
- This contract adds to the previous $214 million contract, indicating strong ongoing business with USPS.
- Manufacturing expected to occur in Q2 2022, providing a timeline for revenue recognition.
- None.
NOVI, Mich., Oct. 26, 2021 /PRNewswire/ -- Utilimaster® has been awarded a
"For more than 40 years, Utilimaster has been designing and manufacturing purpose-built parcel delivery vehicles that improve delivery efficiencies and driver ergonomics and safety. We take great pride in delivering on our promises and in providing high-quality fleets to our customers," said Daryl Adams, President and Chief Executive Officer of The Shyft Group.
The USPS order will be built on both cab-over and cab-behind chassis, featuring 18- and 24-feet long bodies. The order is expected to be manufactured during the second quarter of 2022 and will be completed in 2023.
"Our quality and experience are what makes Utilimaster a leader in the delivery space. We set ourselves apart from the competition by building strong, long-term relationships with our clients and providing high-quality products," said Chad Heminover, President, Shyft Fleet Vehicles and Services. "By offering delivery vehicles across Classes 1 through 7 and by providing vocation-specific custom upfits, we're uniquely positioned to service mid-mile and last-mile delivery fleets."
For more information about Utilimaster, visit www.Utilimaster.com. To learn more about The Shyft Group, visit www.TheShyftGroup.com.
The Shyft Group
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles & Services™ and Shyft Specialty Vehicles™. Today, its family of brands include Utilimaster®, Royal Truck Body™, DuraMag® and Magnum®, Strobes-R-Us™, Spartan RV Chassis™, Builtmore Contract Manufacturing™, and corresponding aftermarket provisions. The Shyft Group and its go-to-market brands are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 3,000 associates across campuses, and operates facilities in Michigan, Indiana, Maine, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas, and Saltillo, Mexico. The Company reported sales from continuing operations of
CONTACT:
Media:
Carrie Wright
Chief Marketing and Communications Officer
The Shyft Group
Carrie.Wright@theshyftgroup.com
(313) 495-2904
Scott Worden
Senior Director
Lambert & Co.
sworden@lambert.com
(248) 631-8558
Investors:
Juris Pagrabs
Group Treasurer, Director of Investor Relations
The Shyft Group
Juris.Pagrabs@theshyftgroup.com
(517) 997-3862
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SOURCE Utilimaster
