LADSON, S.C., Jul 27, 2010 (BUSINESS WIRE) --
Force Protection Industries, Inc., a wholly-owned subsidiary of Force
Protection Inc.
(FRPT), a leading designer, developer and
manufacturer of survivability solutions and provider of total life cycle
support for those products, and SNC-Lavalin Defense Contractors, Inc.
(SNC), a Canadian-based provider and one of the leading engineering
and construction groups in the world, today announced the formation of a
strategic partnership to collaborate on the solution for the Canadian
Government's Tactical Armoured Patrol Vehicle ("TAPV") program.
Force Protection Industries, Inc. previously announced that it has been
selected by the Canadian Government as one of the competitor companies
to provide up to 600 vehicles and related long term support services,
with contract award to the final selected bidder in 2011.
Randy Hutcherson, Chief Operating Officer for Force Protection
Industries, Inc., said, "We are very pleased to partner with
SNC-Lavalin, a highly-respected and experienced company in the Canadian
defence sector, to provide the winning solution for the TAPV project.
Force Protection Industries and SNC are committed to providing the
Canadian Forces with the safest, most reliable vehicle while investing
in Canadian industry. We are looking forward to working with SNC as they
have a wide range of capabilities and experience that will help shape
the winning technical, support, and industrial and regional benefit
solution for the Canadian government that will help save the lives of
Canadian soldiers."
Peter Langlais, Senior Vice President and General Manager for SNC,
commented, "Force Protection is bringing its expertise in design and
supportability for its highly successful Cougar vehicles as the platform
for the TAPV solution. Cougars are currently in use by Canada and have
been instrumental in ensuring the safe transport of the men and women of
the Canadian Forces. The Cougar TAPV will be specifically designed to
meet the Canadian Government's requirements. The primary manufacturing
and supportability will be completed in Canada, and Force Protection and
SNC will work closely together with other Canadian partners to ensure
that Canadian troops get the best possible solution available in terms
of safety and performance, as well as a great value for the government."
About Force Protection, Inc.
Force Protection, Inc. is a leading designer, developer and manufacturer
of survivability solutions, including blast- and ballistic-protected
wheeled vehicles currently deployed by the U.S. military and its allies
to support armed forces and security personnel in conflict zones. The
Company's specialty vehicles, including the Buffalo, Cougar and related
variants, are designed specifically for reconnaissance and urban
operations and to protect their occupants from landmines, hostile fire,
and improvised explosive devices ("IEDs", commonly referred to as
roadside bombs). Complementing these efforts, the Company is designing,
developing and marketing new vehicle platforms (including the Ocelot &
JAMMA) that provide increased modularity, speed, mobility and
concealment with enhanced levels of blast- and ballistic-protection. The
Company also develops, manufactures, tests, delivers and supports
products and services aimed at further enhancing the survivability of
users against additional threats. In addition, the Company provides
long-term life cycle support services of its vehicles that involve
development of technical data packages, supply of spares, field and
depot maintenance activities, assignment of highly-skilled field service
representatives, and advanced on and off-road driver and maintenance
training programs. For more information on Force Protection and its
products and services, visit
.
Safe Harbor Statement
This press release contains forward looking statements that are not
historical facts, including statements about our beliefs and
expectations. These statements are based on beliefs and assumptions of
Force Protection's management, and on information currently available to
management. These forward looking statements include, among other
things: the growth, demand and interest for Force Protection's services
and vehicles, including the Cougar; expectations for future
modernization and service-related contracts for the Cougar; the benefits
and suitability of the Cougar; the ability to meet current and future
requirements; the Company's execution of its business strategy and
strategic transformation, including its opportunities to grow the
business; and, the Company's expected financial and operating results,
including its revenues, cash flow and gross margins, for future periods.
Forward-looking statements speak only as of the date they are made, and
the Company undertakes no obligation to update any of them publicly in
light of new information or future events. A number of important factors
could cause actual results to differ materially from those contained in
any forward-looking statements. Examples of these factors include, but
are not limited to, ability to effectively manage the risks in the
Company's business; the ability to develop new technologies and products
and the acceptance of these technologies and products; and, the other
risk factors and cautionary statements listed in the Company's periodic
reports filed with the Securities and Exchange Commission, including the
risks set forth in the Company's Annual Report on Form 10-K for the year
ended December 31, 2009 and as updated in the Quarterly Report on Form
10-Q for the quarter ended March 31, 2010.
SOURCE: Force Protection Industries, Inc.
Force Protection, Inc.
Media Contact:
Tommy Pruitt, Senior Communications Director, 843-574-3866
tommy.pruitt@forceprotection.net or
Investor Relations Contact:
Wes Harris, Investor Relations Director, 843-574-3892
wes.harris@forceprotection.net
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