United Kingdom Ministry of Defence to Receive 23 Mastiff EOD Variants Defense News ~ LADSON, S.C.--February 23, 2010, (BUSINESS WIRE)--Force Protection, Inc. (NASDAQ: FRPT - News), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced that it has received an order for 23 Cougar Mastiff Explosive Ordinance Disposal (EOD) variants to be delivered to the United Kingdom via a Foreign Military Sales (FMS) contract from Marine Corps Systems Command. The undefinitized contract has a value not to exceed $16.1 million.
The work will be performed in Ladson, SC and is expected to be completed prior to April, 2010. The first 5 Mastiff EOD vehicles were delivered on February 8th, 2010, 20 days after contract award due to long lead funding previously received towards work on the contract.
Michael Moody, Chief Executive Officer of Force Protection, commented, “We are delighted with the Cougar Mastiff’s performance with the United Kingdom’s forces. The Mastiff has proven time and again to be a life saver and an excellent value for our customer. These EOD Mastiffs will enable bomb disposal units in the current theater of operations to perform their missions safely and effectively. We thank our United Kingdom customer for their continued confidence in our products and we look forward to continuing to build on our strong relationships with the Ministry of Defence to meet other current and future survivability needs for British forces.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly 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 Mastiff vehicle, and its other specialty vehicles, including the Cougar, the Buffalo, Cheetah and Ocelot, 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 is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. The Company is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program.
For more information on Force Protection and its vehicles, visit http://http://www.forceprotection.net//
The work will be performed in Ladson, SC and is expected to be completed prior to April, 2010. The first 5 Mastiff EOD vehicles were delivered on February 8th, 2010, 20 days after contract award due to long lead funding previously received towards work on the contract.
Michael Moody, Chief Executive Officer of Force Protection, commented, “We are delighted with the Cougar Mastiff’s performance with the United Kingdom’s forces. The Mastiff has proven time and again to be a life saver and an excellent value for our customer. These EOD Mastiffs will enable bomb disposal units in the current theater of operations to perform their missions safely and effectively. We thank our United Kingdom customer for their continued confidence in our products and we look forward to continuing to build on our strong relationships with the Ministry of Defence to meet other current and future survivability needs for British forces.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly 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 Mastiff vehicle, and its other specialty vehicles, including the Cougar, the Buffalo, Cheetah and Ocelot, 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 is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. The Company is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program.
For more information on Force Protection and its vehicles, visit http://http://www.forceprotection.net//
Safe Harbor Language
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 and demand for Force Protection’s vehicles, including the Mastiff vehicle; the rate at which the Company will be able to produce these vehicles; its expected work completion dates for the vehicles and the ability to meet current and future requirements; and the Company’s expected financial and operating results, including its revenues and cash flow, for future periods. Forward-looking statements speak only as of the date they are made, and we undertake 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, the 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 ability to obtain and complete new orders for its vehicles and products; the Company’s ability to identify and remedy its internal control weaknesses and deficiencies and 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 2008 Annual Report on Form 10-K for the year ended December 31, 2008, as updated in the Quarterly Report on Form 10-Q for the period ended September 30, 2009.
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 and demand for Force Protection’s vehicles, including the Mastiff vehicle; the rate at which the Company will be able to produce these vehicles; its expected work completion dates for the vehicles and the ability to meet current and future requirements; and the Company’s expected financial and operating results, including its revenues and cash flow, for future periods. Forward-looking statements speak only as of the date they are made, and we undertake 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, the 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 ability to obtain and complete new orders for its vehicles and products; the Company’s ability to identify and remedy its internal control weaknesses and deficiencies and 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 2008 Annual Report on Form 10-K for the year ended December 31, 2008, as updated in the Quarterly Report on Form 10-Q for the period ended September 30, 2009.
Contact:
Force Protection, Inc.
Force Protection, Inc.
Company Contact:
Tommy Pruitt, 843-574-3866
Senior Communications Directoror
Investor Relations Contact:
ICR Inc.
James Palczynski, 203-682-8229
Principal and Director
Related Headlines
Force Protection Receives Order for Cougar Mastiff Vehicles - Business Wire
Force Protection Appoints Chief Operating Officer - Business Wire
Force Protection Announces Participation at Cowen and Company's 31st Annual Aerospace/Defense Conference - Business Wire
FORCE PROTECTION INC Files SEC form 8-K, Change in Directors or Principal Officers - EDGAR Online
Merriman Curhan Ford Initiates Coverage on the Defense Electronics/Advanced Communications Sector - PR Newswire
Posts
No comments:
Post a Comment