Force Protection, Inc. (NASDAQ: FRPT) today announced that it has
received a new contract modification for the service and support,
including spare parts, of its Mine Resistant Ambush Protected Vehicles.
This order modifies the M67854-07-D-5031 MRAP contract with Marine Corps
Systems command to enable the Defense Logistics Agency (DLA) to place
orders under that contract. Deliverables under the modification, which
totals $69.5 million, are expected to run through 2009. This
modification is subject to the company’s
agreement with General Dynamics Land Systems providing for a share of
the deliverables and the actual revenue split between the partners is to
be determined.
Michael Moody, Chairman and Chief Executive Officer of Force Protection,
commented, “We continue to see significant
levels of service and support work for our fleet of vehicles and we
remain pleased with the strong relationship we have developed with the
United States Marine Corps, our largest customer. This modification
builds upon our relationship with the Defense Logistics Agency to
provide ongoing support to our vehicles in the field.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and
manufacturer of life saving survivability equipment, 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 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 orders 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
Form 10-Q for the quarter ended September 30, 2007.
Force Protection, Inc.
Tommy Pruitt, 843-574-3866
Senior
Communications Director
or
Investor Relations:
ICR
Inc.
James Palczynski, 203-682-8229
Principal and Director