LADSON, S.C., Sept. 26, 2011 /PRNewswire/ -- Force Protection Industries, Inc., a Force Protection, Inc. (NASDAQ: FRPT) group company, today announced that it has received a firm fixed price modification to existing contract M67854-07-C-5031 from U.S. Marine Corps Systems Command with a total value of approximately $16.9 million. The award is for 961 fuel tank protection modernization kits and certain tools for the Marine's Cougar Mine Resistant Ambush Protected vehicles. Work will be performed in Charleston, S.C., and is expected to be completed no later than March 30, 2012.
The Company previously announced on May 2, 2011, an order for 1,130 fuel tank kits with an approximate value of $18.8 million.
Phil Ciarlo, Chief of Operations for Force Protection, said, "This additional fuel tank protection kit order continues the important modernization work for the installed Cougar fleet and ensures that additional vehicles will receive the best available protection for their fuel systems."
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 the related variants of each, are designed specifically for reconnaissance and other operations and 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.
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 products, including the Cougar; expectations for future programs and the related timing of proposals and awards; the ability to meet current and future requirements; the ability to drive manufacturing and operational efficiencies; and, the Company's execution of its business strategy, including its development initiatives and opportunities to broaden its platform. 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 2 Company's business; the ability to win future awards and finalize contracts; 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 Form 10-Q for the three and six months ended June 30, 2011.
SOURCE Force Protection, Inc.