Spartan Motors, Inc. announced its corporate name change to The Shyft Group, Inc., following the divestiture of its Emergency Response (ER) business. As part of the name change, the Company has released a new company logo and has launched a new corporate website. The Shyft Group is headquartered in Novi, Mich.
For 45 years, the Company has gone to market as Spartan. "This new chapter has been well contemplated, it's aligned with our long-term growth strategy, and it's one we're incredibly proud of," said Daryl Adams, president and CEO of The Shyft Group. "After the divestment of the ER business unit, we went through a months-long process to select the new brand. The Shyft Group represents the pivot in market-focus and the corresponding forward momentum we've garnered in the work truck, specialty service, and delivery vehicle markets."
The name, which the company shared represents speed, efficiency, agility, and a high-intensity approach, was approved by the Company's Board of Directors and by a vote of the shareholders. The Company begins trading under the NASDAQ ticker symbol "SHYF", effective June 1.
While The Shyft Group will serve as the overarching corporate parent company to the organization's go-to-market brands, Utilimaster, Royal Truck Body, Strobes-R-Us, Spartan RV Chassis, and Builtmore Contract Manufacturing (formerly Spartan's contract manufacturing business), it will also continue to serve customers under their existing brand names.
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