LADSON, S.C.--(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.