Force Protection Receives $18.8 Million Award for Fuel Tank Protection Kits PR Newswire "Press Releases US - English"
Monday, May 02 2011 4:05 PM, EST
LADSON, S.C. , May 2, 2011 /PRNewswire/ -- Force Protection Industries, Inc. , a Force Protection, Inc. (Nasdaq: FRPT) group company, today announced that it has received a firm fixed price modification to existing contract M67854-07-C-5031 from U.S. Marine Corps Systems Command with a total value of approximately $18.8 million for 1,130 fuel tank protection modernization kits for the Cougar Mine Resistant Ambush Protected vehicle fleet supporting Operation Enduring Freedom. Work will be performed in Ladson, S.C. , and is expected to be completed by Dec. 31, 2011 .
(Logo: photos.prnewswire.com/prnh/20110321/CL67729LOGO )
Randy Hutcherson , Chief Operating Officer of Force Protection , said, "The fuel tank protection kit is another important modernization component for the installed Cougar fleet. As threats evolve in the course of Operation Enduring Freedom it is vitally important that the vehicles continue to receive the best available protection for critical vehicle systems."
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, 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 (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 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 Protection 's management, and on information currently available to management. These forward looking statements include, among other things: the growth, demand and interest for Force Protection 's services and vehicles, including the Cougar; expectations for future modernization and service-related contracts for the Cougar; the benefits and suitability of the Cougar, including its survivability enhancements; the ability to meet current and future requirements, including expected work completion dates; 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, the ability to effectively manage the risks in the Company's business; the ability to win future awards and finalize contracts; 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 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, 2010 .
Media Contact:
Investor Relations Contact:
Tommy Pruitt
Wes Harris
Senior Director, Communications
Director, Investor Relations
Force Protection, Inc.
Force Protection, Inc.
843.574.3866
843.574.3892
tommy.pruitt@forceprotection.net
wes.harris@forceprotection.net
SOURCE Force Protection, Inc.
