Force Protection, Inc. Announces New Request for Additional Armored Vehicles
Friday September 10, 10:00 am ET
LADSON, S.C.--(BUSINESS WIRE)--Sept. 10, 2004--Force Protection, Inc. (OTCBB:FRCP - News), the leading manufacturer of mine-protected vehicles for military and security users, has received a request from an existing customer for an additional 15 "Buffalo" vehicles, to be put under contract as soon as possible. Deliveries are planned for the first quarter of 2005.
The configuration of these Buffalos will be essentially the same as the configuration of the 21 Buffalos currently being produced for the U. S. Army. The order has a value of about $10 million, although a related spares order, which has not yet been finalized, may push the total somewhat higher.
"This request underscores the critical need that Force Protection's vehicles continue to meet," said CEO Michael Watts. "We employ the most advanced ballistic and mine protected technology in the world and are clearly becoming the manufacturer of choice for those who want to protect and save lives. That the Buffalos in the field have done their job very well is of paramount importance."
The Buffalo combines advanced protection against landmines, IEDs (roadside bombs) and other blasts as well as small arms fire with state-of-the-art automotive components. It has multiple mission configurations and can be repaired in the field; it has been deployed with the U.S. Army in Iraq and Afghanistan. The Buffalos have taken numerous hits from landmines and IEDs but no serious casualties have resulted and the vehicles have been placed back into service. In addition, 14 Cougars have recently been committed for use by the U.S. Marines in Operation Iraqi Freedom II. The Cougar is also protected against mines, IEDs and small arms fire. The Cougar is smaller than the Buffalo and has been specifically configured to meet the needs of the Marines.
The additional Buffalos will be produced at the company's 225,000 square foot facility in Ladson, near Charleston, S.C.
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