Force Protection Receives Multiple Buffalo Vehicle Orders
November 13 2008 - 9:00AM
Business Wire
Force Protection, Inc. (NASDAQ: FRPT) today announced that it has
received an additional order from the United States Army under
contract W56HZV-08-C-0028 for the delivery of 16 of its Buffalo A2
route-clearance vehicles. The undefinitized contract modification
carries a dollar value not to exceed $15.5 million and fulfills a
portion of the requirement for the Ground Standoff Mine Detection
System or GSTAMIDS program of record. The vehicles are to be
delivered no later than the end of June 2009. In addition, Force
Protection today announced that it has received a modification to
contract M67854-06-C-5162 from Marine Corps Systems Command for a
Foreign Military Sales order of 14 Buffalo vehicles to be delivered
to the United Kingdom Ministry of Defence. The undefinitized
contract modification carries a dollar value not to exceed $18.6
million. This modification represents the first orders for the
Buffalo vehicle for the United Kingdom. Work under the modification
including vehicle deliveries and sustainment is to be completed by
October 2009. Michael Moody, Chief Executive Officer of Force
Protection, commented, �These orders give us continued visibility
into the long term role that the Buffalo will play in the Army�s
GSTAMIDS program as well as the United Kingdom�s route clearance
efforts. Buffalo continues to lead the way in route clearance
operations worldwide and has performed extremely well in its
ability to keep vital routes safe. We are excited to soon begin
shipments of the A2 variant, which reinforces this unique vehicle�s
already considerable level of performance and capability.� About
Force Protection, Inc. Force Protection, Inc. is a leading American
designer, developer and manufacturer of life saving survivability
solutions, predominantly 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, the Buffalo and the
Cheetah, are designed specifically for reconnaissance, forward
command and control, 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 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 are
forward-looking statements. These statements are based on beliefs
and assumptions by Force Protection�s management, and on
information currently available to management. 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 result to differ materially from those contained
in any forward-looking statements. Examples of these factors
include, but are not limited to, our ability to fulfill the above
described order on a timely basis, our ability to effectively
manage the risks in our business; the reaction of the marketplace
to the foregoing; 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 2007 Annual Report on Form 10-K for the year ended
December 31, 2007.
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