Specialty vehicle manufacturer REV Group Inc.—parent company of school bus manufacturer Collins Bus—went public Friday with shares trading on the New York Stock Exchange.
The company's shares opened trading last week at $25 following an initial public offering of $22 a day earlier. REV Group is trading under the ticker symbol REVG.
CEO Tim Sullivan appeared on “First on CNBC” on Friday to discuss the current state of U.S. manufacturing, including the school bus industry. He said school bus manufacturers “need to innovate more," adding that the industry should look to Collins Bus, which has about 42 percent of the Type A market share, to normalize technology and provide new modern body designs.
When asked about how to make manufacturing in the U.S. work, economically, Sullivan said: “Manufacturing in the U.S is not complicated. It’s really about doing your job and getting your operations set up properly, working with the labor. The manufacturing sector has the highest paying jobs out there. Manufacturing is a good profession. We lost some of that over the last decade.”
In addition, Sullivan said 85 percent of REV Group’s supply chain is based in the U.S.
Along with school buses, REV Group brands manufacture fire and emergency, commercial bus, RV, transit, coach and mobility vehicles, as well as yard trucks, sweepers and fiberglass body parts.
- Daimler Trucks North America Celebrates a Century of Innovation
- Mother Arrested After Ordering Children to 'Box' on School Bus
- New York School Bus Driver Found Dead in Vehicle
- CHP to Stage School Bus Safety Enforcement in Pope Valley
- Navistar Announces Intention to Reprice Approximately $1.0 Billion Senior Secured Term Loan