Force Protection, Inc. (NASDAQ: FRPT) today announced that it has
received a new definitized firm fixed price contract modification for
service and support, including spare parts, of its Mine Resistant Ambush
Protected Vehicles with a value of approximately $41.8 million. This
order modifies the M67854-07-D-5031 MRAP contract with Marine Corps
Systems Command and deliverables under the modification are expected to
run through 2009. A portion of the work under this contract modification
may be performed by General Dynamics Land Systems pursuant to the terms
of the workshare allocation set forth in the agreement between the
parties dated December 15, 2006.
Michael Moody, Chairman and Chief Executive Officer of Force Protection,
commented, “As the MRAP program enters into a
more robust support and sustainment phase, we are pleased that the
United States Marine Corps continues to look to us to perform this
important service work on our fleet of vehicles.”
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and
manufacturer of life saving survivability solutions and 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 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.
Force Protection, Inc.
Tommy Pruitt, 843-574-3866
Senior
Communications Director
or
Investor Relations:
ICR
Inc.
James Palczynski, 203-682-8229
Principal and Director