Canadian Forces to Receive Additional Force Protection Vehicles
November 17 2008 - 4:05PM
Business Wire
Force Protection, Inc. (NASDAQ: FRPT) today announced that it has
received a modification under contract M67854-07-C-5039 for the
delivery of 14 of its Buffalo A2 route-clearance vehicles and 34 of
its Cougar vehicles to the Canadian Government. The undefinitized
contract modification carries a dollar value not to exceed $49.4
million and includes vehicles, spare parts and field support. The
vehicles are scheduled for delivery in 2009. This represents the
second order for Force Protection vehicles by the Canadian
Government. In 2007, Force Protection delivered five Buffalo and
five Cougar vehicles for the Canadian Expeditionary Force Command.
Michael Moody, Chairman and Chief Executive Officer of Force
Protection, stated, �Our NATO allies continue to face threats from
roadside bombs, landmines and many other types of improvised
explosive devices. We are delighted that the Canadian military will
be receiving this life saving equipment for use in supporting their
operations in the global war on terror. This order further
solidifies our belief that the Cougar and Buffalo are proving to be
the most survivable, sustainable vehicles on the battlefield. We
are very pleased that the Canadian government has chosen to procure
additional vehicles from Force Protection.� 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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