FRPT 5.25 +.57 on news: Force Dynamics, LLC Breaks Production Records in December
Wednesday January 2, 9:24 am ET
LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ:FRPT - News) and General Dynamics Land Systems (NYSE:GD - News) – through their joint venture Force Dynamics, LLC – today announced that they continued to break monthly vehicle production records in December.
ADVERTISEMENT
Through the Force Dynamics joint venture, the companies produced 343 Mine Resistant Ambush Protected (MRAP) Category I and Category II vehicles. Force Protection alone also produced seven Category III Buffalo vehicles in December, one more than the six deliveries called for in its sole-sourced MRAP contract, and thereby set a new Force Protection record with 350 total vehicle deliveries. Force Dynamics finished 2007 with 56 vehicles ahead of schedule on all MRAP Category I and II delivery commitments. In addition, Force Protection ended the year with three vehicles ahead of schedule on its sole-sourced Category III Buffalo contracts.
“The strength of the Force Dynamics enterprise was again evident in December, which was a shortened production month due to the holidays,” said Force Protection Chief Operating Officer Raymond Pollard.
“During this past year, we’ve made good on our word to exponentially ramp up production of our life saving vehicles in response to the urgent requests of our customers. Our paramount objective has always been to meet the needs of the warfigher. We feel gratified to note the role our technology has made in establishing a safer, more secure environment for our armed forces in Iraq and Afghanistan, but also realize that there is much work left to do around the world. Force Protection is committed to continuing its record-breaking production performance in to 2008.”
The Pentagon has ordered more than 3,000 Cougar and Buffalo vehicles from Force Protection in support of MRAP requirements. To date, the Force Dynamics enterprise has delivered more than 1,360 Cougar MRAP vehicles, the largest number of deliveries of any MRAP manufacturer.
About Force Dynamics, LLC
Force Dynamics, LLC is a joint venture between leading defense manufacturers Force Protection, Inc. (NASDAQ:FRPT - News) and General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE:GD - News).
About Force Protection, Inc.
Force Protection, Inc. was the first to respond to the urgent need to bring lifesaving mine-resistant ambush protected vehicles to U.S. troops in combat. The Company is a leading American manufacturer of ballistic- and blast-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, the Cougar and the Buffalo, each have a proven track record where it matters most - in the battlefield. The Company’s newest vehicle, the Cheetah, is designed specifically for reconnaissance, forward command and control, and urban operations, and combines state-of-the-art ballistic and blast protection with the mobility of a unique light-armored vehicle. These specialty vehicles, which the Company believes are in the forefront of blast-resistant technology, are designed to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company is one of the 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 www.forceprotection.net.
About General Dynamics
General Dynamics, headquartered in Falls Church, Va., employs approximately 83,000 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:
Force Protection, Inc.
Jeff Child, 202-737-5339
--------------------------------------------------------------------------------
Source: Force Dynamics, LLC
tuna
Market Data 
Markets 
AI
