05.11.2007 13:33:00
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U.S. Marine Corps Awards Force Protection $91 Million for Field Service and Training Support
Force Protection Inc. today announced it has received a contract from
the U.S. Marine Corps for the purchase of services in support of
operation of the Mine Resistant Ambush Protected (MRAP) Vehicles
University, which is an MRAP training program at Red River Army Depot,
integrated logistics support, and field service representative support.
Total approximate value of the contract is $91.8 million.
Force Dynamics, the joint venture between Force Protection and General
Dynamics Land Systems, will perform the contract pursuant to the terms
of the joint venture agreement. Consistent with that agreement, a
subcontract for work to be performed by General Dynamics Land Systems
will be forthcoming. Work is scheduled for completion by November 2008.
"Critical to the optimal performance of our
vehicles is the support they receive in the field,”
said Force Protection President Michael Moody. "We
have worked continually to ensure that our logistics, maintenance, and
training support network grows in parallel with our record-breaking
vehicle production and delivery. This contract underscores the
importance of these sustainment efforts.”
Force Protection’s Cougar and Buffalo vehicles
have been deployed in Iraq and Afghanistan since 2003.
About Force Dynamics, LLC
Force Dynamics, LLC is a joint venture between leading defense
manufacturers Force Protection, Inc. (NASDAQ:FRPT) and General Dynamics
Land Systems, a business unit of General Dynamics Corporation (NYSE:GD).
About Force Protection Inc.
Force Protection, Inc., answering the call to duty to bring lifesaving
mine-resistant ambush protected vehicles to U.S. troops in combat and an
American company whose vehicles, Cougar and Buffalo, have a proven track
record where it matters most, in the battlefield, manufactures
ballistic- and mine-protected vehicles. These specialty vehicles protect
against landmines, hostile fire, and Improvised Explosive Devices (IEDs,
commonly referred to as roadside bombs). Force Protection's mine and
ballistic protection technologies are among the most advanced in the
world. The vehicles are manufactured outside Charleston, S.C. For more
information on Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics
General Dynamics, headquartered in Falls Church, Va., employs
approximately 83,000 people worldwide and anticipates 2007 revenues of
approximately $27 billion. The company has leading market positions in
mission critical information systems and technologies, land and
amphibious combat systems, shipbuilding and marine systems, and business
aviation. More information about the company is available on the
Internet at www.generaldynamics.com.
This press release contains forward-looking statements that involve
risks and uncertainties. The Company generally uses words such as "believe,” "may,” "could,” "will,” "intend,” "expect,” "anticipate,” "plan,” and
similar expressions to identify forward-looking statements. You should
not place undue reliance on these forward-looking statements. Actual
results could differ materially from those anticipated in the
forward-looking statements for many reasons, including the risks
described in the Company’s Form 10-K and
other reports filed with the Securities and Exchange Commission.
Although management believes the expectations reflected in the
forward-looking statements are reasonable, they relate only to events as
of the date on which the statements are made, and the Company’s
future results, levels of activity, performance or achievements may not
meet these expectations. The Company does not intend to update any of
the forward-looking statements after the date of this document to
conform these statements to actual results or to changes in
expectations, except as required by law.
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