Supreme Selling Shuttle Bus Business To Forest River
Supreme Industries, Inc., which announced late last year its intentions to divest its shuttle bus business, said it will sell its shuttle bus assets to Forest River, Inc. for approximately $7 million.
"We are pleased to have reached a mutually beneficial agreement for the sale of our shuttle bus assets to Forest River," said 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. This divestiture allows us to concentrate our resources on growing our work truck, specialty vehicle and trolley businesses."
Supreme Industries is headquartered in Goshen, Ind., and is a manufacturer of specialized commercial vehicles including truck bodies, trolleys, and armored and specialty vehicles. Forest River, a Berkshire Hathaway company, is based in Elkhart, Ind., and manufactures a line of transit buses, shuttle buses and tour coaches.