FORCE PROTECTION WINS EUROPEAN ORDERS
27 Feb 08. Force Protection, Inc. today announced during AUSA that it has received an order for an additional 174 Cougar Mastiff vehicles, vehicle spare parts, and field support for the UK Ministry of Defense. Under the contract, valued at approximately $115m, vehicle production will be performed exclusively by Force Protection at its Ladson, SC facility and is scheduled for completion by December 2008, with spare parts and field support coverage continuing through mid 2009.
Force Protection Chairman and Interim CEO Michael Moody, commented, “We are proud of and grateful for our strong relationship with the UK Ministry of Defense. A successful sales effort to foreign military customers is an important part of our long-term strategy to fully leverage our position as the innovator and leading supplier of tactical wheeled vehicles and blast and ballistic survivability solutions, while ensuring a solid return on our investments in manufacturing capability. We believe that this order reflects a wide and growing recognition of the high level of quality and capabilities inherent in our vehicle designs, which offer the best available protection for soldiers in the field.”
The Company noted that its successful program of capacity expansion and operational capability improvement enables it to now serve both the continuing needs of the U.S. military for these vehicles as well as to provide these much-needed products to foreign military customers.
Force Protection also announced that it has received an order for six Cougar 6X6 troop transport vehicles and four Buffalo route clearance vehicles for the Italian Ministry of Defense. Under the contract, vehicle production will be performed exclusively by Force Protection at its Ladson, SC facility and is scheduled for completion by July 2008, with spare parts and field support coverage continuing through mid 2009.
Michael Moody, Chairman and Interim Chief Executive Officer of Force Protection, commented, “There is, across the world, a community of nations that recognizes that their finest men and women either are now or will eventually serve in harm’s way. These nations also clearly want to provide those same soldiers the very best equipment possible to protect them and enable them to complete their missions. We are proud today to announce an additional foreign military sales order for the Italian Ministry of Defense for just such purposes. We believe that this order further underscores a sizable international opportunity for our technology and our products.”