Force Protection Receives $46.6 Million Award for Delivery of 40 Buffalo Vehicles
April 6, 2011
LADSON, SC – April 6, 2011 – Force Protection Industries, Inc., a Force Protection Inc. (NASDAQ: FRPT), group company, today announced that it has received contract M67854-11-C-5063 from the United States Marine Corps Systems Command with an approximate value of $46.6 million. The award is a Foreign Military Sale (FMS) for 40 Program of Record (POR) Buffalo Mine Protected Clearance Vehicles (MPCV). All work under this contract will be performed in Ladson, SC and is expected to be completed by September 30, 2011.
Randy Hutcherson, Chief Operating Officer for Force Protection Industries, Inc., said, The demand for Buffalo continues to be solid due to its effectiveness as the premier route clearance vehicle available today. Buffalos have saved untold numbers of lives over the last several years in combat operations in Iraq and Afghanistan. We are extremely proud to provide these vehicles to conduct the critical work of clearing the way for coalition troops in harm’s way.
Separately, Force Protection Industries, Inc. was awarded on March 30, 2011 a firm fixed price modification to existing contract M67854-07-D-5031 for approximately $11.4 million for a 10-month renewal of 46 field service representatives to install liner blanket kits, modernization safety kits, and conduct general maintenance work on the Cougar Mine Resistant Ambush Protected (MRAP) vehicle fleet supporting Operation Enduring Freedom and Operation New Dawn. All work will be performed in Afghanistan and Iraq, and will be completed by Dec. 31, 2011.
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). 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.
