Monday, July 5, 2010

DTN News: Force Protection Meets With Potential Suppliers For Australia’s $1 Billion Vehicle

Defense News: DTN News: Force Protection Meets With Potential Suppliers For Australia’s $1 Billion Vehicle
Source: DTN News / Force Protection Europe Limited
(NSI News Source Info) LADSON, South Carolina/WARWICKSHIRE, U.K.- July 6, 2010: Force Protection has completed a series of discussions with potential suppliers across four states as it refines its Australian manufacturing plans for the $1 billion protected mobility vehicle contract.
The Australian Government in May announced that Force Protection was one of three Australian-based solutions to be given the opportunity to win the contract to manufacture up to 1300 next-generation protected mobility vehicles, under the ‘Land 121 Phase 4’ program.
Force Protection has again met with potential suppliers as well as State Government ministers and industry representatives in New South Wales, Queensland, Victoria and South Australia. Force Protection Chief Executive Officer, Michael Moody, said discussions with suppliers last year had opened up several manufacturing options for its Ocelot vehicle across the four states, and it was important to further progress these discussions now that the company had been short-listed for the Australian Government contract.
“The reception we have received from both suppliers and government representatives over the past couple of weeks has been extremely positive, and confirmed our view that we can build a world class vehicle utilising the best of Australian military and automotive manufacturing expertise and know-how,” Mr Moody said.
“We are committed to operating in Australia and we look forward to making further announcements about our plans.”
Force Protection was one of the companies recently down-selected by the UK Ministry of Defence to tender for the Light Protected Patrol Vehicle Program – Demonstration, Production and Support Phases and has been awarded a contract by the UK MoD for the supply of two Ocelot light protected patrol vehicles for testing.
Its Ocelot vehicle has undergone significant development in conjunction with leading independent technology provider Ricardo to provide high levels of survivability together with exceptional cross country mobility, flexibility and value for money.
The Ocelot’s capabilities have already been proven by a sustained program of blast, ballistic, automotive and manoeuvrability tests conducted since 2009.
The Ocelot can be maintained and repaired quickly in the field to ensure maximum availability, while its unique modular design enables the vehicle to be reconfigured in theatre within two hours to meet a variety of different roles, such as patrol, fire support and protected logistics. Force Protection continues to test and refine the Ocelot vehicle, taking in to account the specific operational requirements for the Australian Defence Force.
About Force Protection, Inc.
Force Protection, Inc. is a leading designer, developer and manufacturer of survivability solutions, including blast- and ballistic-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company’s specialty vehicles, including the Buffalo, Cougar and related variants, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company also develops, manufactures, tests, delivers and supports products and services aimed at further enhancing the survivability of users against additional threats. In addition, the Company provides long-term life cycle support services of its vehicles that involve development of technical data packages, supply of spares, field and depot maintenance activities, assignment of highly-skilled field service representatives, and advanced on and off-road driver and maintenance training programs. For more information on Force Protection and its products and services, visit
Safe Harbor Statement
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. These forward looking statements include, among other things the growth, demand and interest and demand for Force Protection’s vehicles, including the Ocelot vehicle; expectations for future contracts for the Ocelot the benefits; and suitability of the Ocelot; the rate at which the Company will be able to produce these vehicles; the ability to meet current and future requirements the Company’s execution of its business strategy and strategic transformation, including its opportunities to grow the business; and the Company’s expected financial and operating results, including its revenues, cash flow and gross margins, for future periods. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, ability to effectively manage the risks in the Company’s business; the ability to develop new technologies and products and the acceptance of these technologies and products; the other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 and as updated in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

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