FRCP - .26/.265 Nice contract. I only have a few tracking shares, so on Monday, I may have to add a few.
Force Protection, Inc. Inks Contract for Up to 27 Typhoon Mine and Ballistic Protected Military Vehicles
Friday April 23, 4:05 pm ET
CHARLESTON, S.C., April 23, 2004 (PRIMEZONE) -- Force Protection, Inc. (OTC BB:FRCP.OB - News) announced today that its subsidiary Technical Solutions Group (TSG) has been awarded a contract to manufacture and deliver up to 27 Typhoon mine and ballistic protected vehicles. The 27 vehicles, training programs and consumable spare parts have a total value of $9.7 million. Initial deliveries are scheduled to begin in September 2004 and all of the initial release will be delivered before the end of the year.
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``We at TSG are honored to work with this customer, for whom we have the utmost respect,'' says Michael Watts, CEO of Force Protection, Inc. ``We're proud to know that our vehicles will help them accomplish their mission.''
U.S. Representative Henry Brown, who represents the First District of South Carolina where TSG is located, stated, ``I am very proud of TSG and all of their employees for receiving this critically important contract. These mine and ballistic protected vehicles will go a long way toward protecting all of the brave men and women in uniform who are in harm's way in Iraq and other parts of the world as we continue the global war on terrorism. And back home, I am very thankful that this procurement will provide significant new jobs and a boost for the local economy. Since these vehicles perform such a valuable service, I am hopeful that we can expect further contracts in the future.''
The Typhoon is a versatile 4 x 2, 4 x 4 or 6 x 6 multi-purpose vehicle that can be configured to satisfy a wide variety of mission requirements. The monocoque capsule is designed to protect personnel, the engine and transmission from both ballistic and mine blast threats. The capsule is mated with the latest in American commercial automotive technology to produce the most user-friendly and adaptable vehicle in its class. The Typhoon can be configured to serve as a mine protected troop transport vehicle, a weapons platform, a law enforcement special response vehicle or an Explosive Ordinance Disposal (EOD)/Range clearance vehicle.
TSG produces a variety of mission-specific vehicles designed to protect property and save lives by removing landmines and transporting personnel through areas that contain landmines. Its vehicles provide superior blast protection, visibility, load carrying capacity, interior space and parts availability. It owns the world's most advanced mine and ballistic protection technology.
TSG produces, among other vehicles, the Buffalo, the most advanced mine resistant vehicle in the world, with multiple mission configurations and specifically designed field reparability. The Buffalo was recently featured on Fox News. A DVD of this segment is available from the Company's Investor Relations Department. Technical Solutions Group has also been highlighted on CNBC's Business Center. A video clip of the segment is available at: forceprotectioninc.com. |
