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Force Protection, Inc. manufactures and distributes vehicles that protect and save lives and property. Its subsidiary, Technical Solutions Group, Inc., (TSG) manufactures and markets military vehicles that are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Its mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.
For more information, visit forceprotection.net.
Appropriation for Force Protection, Inc. Included in Defense Spending Bill
Monday August 9, 1:53 pm ET
biz.yahoo.com
CHARLESTON, S.C.--(BUSINESS WIRE)--Aug. 9, 2004--Force Protection, Inc. (OTCBB:FRCP - News) announced today that the defense spending bill signed into law by the President last week includes a $4.5 million appropriation for the company's mine and blast protected vehicles. The bill was approved 96-0 in the Senate and 410-12 in the House.
"Although the actual dollar amount is not especially large, we think this is an important step forward," said CEO Michael Watts. "Our vehicles are now on the radar screen. We appreciate very much that Senator Lindsey Graham, Senator Ernest Hollings, Congressman Henry Brown and others have worked hard to secure this appropriation. We are both proud and appreciative of their efforts."
Both the Army and the Marines already have ordered the company's protected vehicles under Urgent Operational Requirements for use in Iraq and Afghanistan. This appropriation will facilitate acquisition of additional protected vehicles from Force Protection/TSG. It may also be possible to obtain supplemental funding to expand the number of vehicles that can be acquired, Watts said.
President Bush said the bill, which he signed on August 5, shows America's military "that their country stands behind them as they fight for our freedom and as they spread the peace. No enemy or friend can doubt that America has the resources to prevail. And we will."
"We are pleased and proud," Watts said, "that Force Protection is contributing to this mission."
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