Force Protection Establishes Canadian Subsidiary Business Wire "Press Releases - English"
Office to be Located in Ottawa, Ontario
Monday, March 07 2011 10:31 AM, EST
LADSON, S.C. --(BUSINESS WIRE)-- Force Protection Industries, Inc. , a Force Protection Inc. (NASDAQ:FRPT) group company, today announced the establishment of a Canadian subsidiary company, Force Protection Survivability Solutions Canada, Inc.
This subsidiary will allow us to better support the Canadian market and align more closely with our many Canadian partners and suppliers, said Michael Moody , Chief Executive Officer of Force Protection Inc. Force Protection has developed and is offering a highly survivable and mobile vehicle for the Canadian Ministry of Defenses Tactical Armored Vehicle Patrol, or TAPV, program. We are committed to supporting this solution for the TAPV, as well as servicing our Cougar and Buffalo vehicles currently in service with the Canadian Forces.
The head office will be located in Ottawa, Ontario , with partnerships and supplier relationships extending across Canada .
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 Companys specialty vehicles, including the Buffalo, Cougar, Ocelot 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). Complementing these efforts, the Company is designing, developing and marketing the JAMMA, a new vehicle platform that provides increased modularity, transportability, speed, and mobility. 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 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 www.forceprotection.net.
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 Protections management, and on information currently available to management. These forward looking statements include, among other things: the growth, demand and interest for Force Protections services and vehicles; expectations for future modernization and service-related contracts; the benefits and suitability of vehicles and service-related contracts; expected work completion and delivery dates; the Companys execution of its business strategy and strategic transformation, including its opportunities to grow the business; and, the Companys 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 Companys business; the ability to develop new technologies and products and the acceptance of these technologies and products; and, the other risk factors and cautionary statements listed in the Companys periodic reports filed with the Securities and Exchange Commission , including the risks set forth in the Companys 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 September 30, 2010 .
Force Protection Industries, Inc. Media Contact: Tommy Pruitt , 843-574-3866 Senior Communications Director tommy.pruitt@forceprotection.net or Investor Relations Contact: Wes Harris , 843-574-3892 Investor Relations Director wes.harris@forceprotection.net
Source: Protection Industries, Inc.
