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Wednesday, August 29, 2007 9:52:50 PM
AFTERHOURS: FRPT: Infiniti Stocks To Watch:
Force Protection, Inc. Ahead of MRAP Vehicle Production Schedule
Wednesday August 29, 4:15 pm ET
LADSON, S.C.--(BUSINESS WIRE)--Leading armored vehicle manufacturer Force Protection, Inc. (Nasdaq:FRPT - News) today announced that it is ahead of its Mine Resistant Ambush Protected (MRAP) production schedule for the month of August. The company has produced more than 50 Cougar vehicles to support the U.S. Department of Defense MRAP program. The Category II Cougar 6x6 vehicle commitment for August has already been shipped.
"We have not yet closed August and are well ahead of our production objectives," said Force Protection COO Raymond Pollard. "This is indicative of the efficiencies of our proven manufacturing processes that are producing a proven solution which has effectively countered more than 3,000 mine detonations and IED attacks in the past four years."
The Pentagon has awarded Force Protection contracts for more than 1,900 Cougar and Buffalo vehicles to support its Category I, II, and III MRAP program requirements.
"This is also reflective of the fact that our efforts to mobilize industry resources through our partnering agreements are having their intended effects," added Pollard. "We will continue to do everything necessary to meet the needs of our customers and the men and women who depend on these vehicles."
Force Protection's Cougar and Buffalo vehicle series have been deployed in Iraq and Afghanistan since 2003. They have become the gold standard for troop safety, and their proven performance has formed the basis for the MRAP vehicle program. In addition to its own production capacity, Force Protection has created a joint venture with General Dynamics Land Systems to increase both capacity and deliveries under its MRAP program awards.
About Force Protection Inc.
Force Protection, Inc., first to answer the call to duty for the urgent need to bring lifesaving mine-resistant ambush protected vehicles to U.S. troops in combat and an American company whose vehicles, Cougar and Buffalo, have a proven track record where it matters most; in the battlefield, manufactures ballistic- and mine-protected vehicles through its wholly-owned subsidiary. These specialty vehicles protect against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technologies are among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics
General Dynamics Land Systems, a business unit of General Dynamics (NYSE:GD - News), is headquartered in Falls Church, Va., employs approximately 82,900 people worldwide and anticipates 2007 revenues of approximately $27 billion. The company has leading market positions in mission critical information systems and technologies, land and amphibious combat systems, shipbuilding and marine systems, and business aviation. More information about the company is available on the Internet at www.generaldynamics.com.
This press release contains forward-looking statements that involve risks and uncertainties. The Company generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the Company's Form 10-K and other reports filed with the Securities and Exchange Commission. Although management believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company's future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in expectations, except as required by law.
Contact:
Policy Impact Communications
Jeff Child, 202-737-5339
--------------------------------------------------------------------------------
Source: Force Protection, Inc.
http://biz.yahoo.com/bw/070829/20070829005954.html?.v=1
Force Protection, Inc. Ahead of MRAP Vehicle Production Schedule
Wednesday August 29, 4:15 pm ET
LADSON, S.C.--(BUSINESS WIRE)--Leading armored vehicle manufacturer Force Protection, Inc. (Nasdaq:FRPT - News) today announced that it is ahead of its Mine Resistant Ambush Protected (MRAP) production schedule for the month of August. The company has produced more than 50 Cougar vehicles to support the U.S. Department of Defense MRAP program. The Category II Cougar 6x6 vehicle commitment for August has already been shipped.
"We have not yet closed August and are well ahead of our production objectives," said Force Protection COO Raymond Pollard. "This is indicative of the efficiencies of our proven manufacturing processes that are producing a proven solution which has effectively countered more than 3,000 mine detonations and IED attacks in the past four years."
The Pentagon has awarded Force Protection contracts for more than 1,900 Cougar and Buffalo vehicles to support its Category I, II, and III MRAP program requirements.
"This is also reflective of the fact that our efforts to mobilize industry resources through our partnering agreements are having their intended effects," added Pollard. "We will continue to do everything necessary to meet the needs of our customers and the men and women who depend on these vehicles."
Force Protection's Cougar and Buffalo vehicle series have been deployed in Iraq and Afghanistan since 2003. They have become the gold standard for troop safety, and their proven performance has formed the basis for the MRAP vehicle program. In addition to its own production capacity, Force Protection has created a joint venture with General Dynamics Land Systems to increase both capacity and deliveries under its MRAP program awards.
About Force Protection Inc.
Force Protection, Inc., first to answer the call to duty for the urgent need to bring lifesaving mine-resistant ambush protected vehicles to U.S. troops in combat and an American company whose vehicles, Cougar and Buffalo, have a proven track record where it matters most; in the battlefield, manufactures ballistic- and mine-protected vehicles through its wholly-owned subsidiary. These specialty vehicles protect against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technologies are among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics
General Dynamics Land Systems, a business unit of General Dynamics (NYSE:GD - News), is headquartered in Falls Church, Va., employs approximately 82,900 people worldwide and anticipates 2007 revenues of approximately $27 billion. The company has leading market positions in mission critical information systems and technologies, land and amphibious combat systems, shipbuilding and marine systems, and business aviation. More information about the company is available on the Internet at www.generaldynamics.com.
This press release contains forward-looking statements that involve risks and uncertainties. The Company generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the Company's Form 10-K and other reports filed with the Securities and Exchange Commission. Although management believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company's future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in expectations, except as required by law.
Contact:
Policy Impact Communications
Jeff Child, 202-737-5339
--------------------------------------------------------------------------------
Source: Force Protection, Inc.
http://biz.yahoo.com/bw/070829/20070829005954.html?.v=1
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