LADSON, S.C., June 20, 2011
Force Protection Receives $22.48 Million in Awards to Extend Field Service Representatives
Force Protection Industries, Inc., a FORCE PROTECTION, INC. (NASDAQ: FRPT)group company, today announced it has received two firm fixed price modification awards under contract M67854-07-D-5031 totalling approximately $22.48 million from U.S. Marine Corps Systems Command for the extension of field service representatives in Afghanistan.
On June 14, 2011 Force Protection received a $14,430,546 firm-fixed-price modification under previously awarded firm-fixed-price, indefinite-delivery/indefinite-quantity contract (M67854-07-D-5031) for a six-month renewal of 87 field service representatives and their life support to install spall liner blanket kits, independent suspension kits, modernization safety kits and conduct general maintenance on the Cougar Mine Resistant Ambush Protected vehicle fleet supporting Operation Enduring Freedom.
On June 15, 2011 Force Protection received an $8,089,860 firm-fixed-price modification under previously awarded contract (M67854-07-D-5031) for a six-month renewal of 43 field service representatives to support operations at Vehicle Support Facility-Afghanistan.
Work on both modifications will be performed in Afghanistan, and is expected to be completed by Dec. 31, 2011.
Randy Hutcherson, Chief Operating Officer of Force Protection, said, "The important sustainment, upgrade and modernization work continues for the Cougar vehicles in Afghanistan. We are pleased to continue to provide this critical service to our Marine Corps customer to support the ongoing operations in Afghanistan."
About Force Protection, Inc.
Force Protection, Inc. is a leading designer, developer and manufacturer of survivability solutions, including blast- and ballistic-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, including the Buffalo, Cougar, Ocelot and related variants, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (commonly referred to as roadside bombs). Complementing these efforts, the Company is designing, developing and marketing the JAMMA, a new vehicle platform that provides increased modularity, transportability, speed and mobility. The Company also develops, manufactures, tests, delivers and supports products and services aimed at further enhancing the survivability of users against additional threats. In addition, the Company provides long-term life cycle support services of its vehicles that involve development of technical data packages, supply of spares, field and depot maintenance activities, assignment of skilled field service representatives, and advanced driver and maintenance training programs. For more information on Force Protection and its products and services, visit www.forceprotection.net.
Force Protection, Inc. Safe Harbor Statement
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection's management, and on information currently available to management. These forward looking statements include, among other things: the growth, demand and interest for Force Protection's services and vehicles; the ability to meet current and future requirements; and, the Company's execution of its business strategy and strategic transformation, including its opportunities to grow the business. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, the ability to effectively manage the risks in the Company's business; the ability to win future awards and finalize contracts; the ability to develop new technologies and products and the acceptance of these technologies and products; and the 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 Annual Report on Form 10-K for the year ended December 31, 2010 and in the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2011.
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Media Contact: |
Investor Relations Contact: |
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Tommy Pruitt |
Wes Harris |
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Senior Communications Director |
Investor Relations Director |
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843.574.3866 |
843.574.3892 |
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tommy.pruitt@forceprotection.net |
wes.harris@forceprotection.net |