REVG - Specialty Vehicles Manufacturer REV Group Shares Are Surging Today: What's Going On? | Benzinga
REV Group Inc (NYSE:REVG) shares are trading higher after the company announced a special dividend and strategic actions.
Effective January 26, 2024, the company closed the sale of its school bus business, Collins Bus Corporation, to Forest River Bus, LLC for $303.0 million in cash.
Also, REV Group stated that it will exit the transit bus manufacturing by shutting down operations at its ElDorado National-California (ENC) business.
The ENC operation winding down is projected to be significantly completed by the end of the fiscal year 2024 once the completion of existing customer orders are completed.
Mark Skonieczny, President and CEO, said, “Delays in the ...