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Force Protection Awarded $82.3 Million for Independent Suspension Upgrades



Force Protection Awarded $82.3 Million for Independent Suspension Upgrades




Estimated Cost:


Force Protection, Inc. (NASDAQ: FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received an $82.3 million modification to contract M67854-07-D-5031 from the United States Marine Corps Systems Command for independent suspension system (ISS) kits for Cougar vehicles. The modification is subject to definitization. Work will be performed at the MRAP Sustainment Facility (MSF) in Kuwait and is expected to be completed by December 31, 2010. Randy Hutcherson, Chief Operating Officer for Force Protection, said, “This award is important to the performance of ongoing difficult but important missions in Afghanistan. We are extremely proud of the proven performance and continued durability of our Cougar fleet and look forward to maintaining this important asset in the years to come. Our ability to stand up service operations forward into Kuwait and now Afghanistan enables us to provide the best possible service to the war fighter at a critical time for operations in the Middle East. We are happy to receive this order which demonstrates continued demand for modernization of the vehicles and bodes well for a strong second half of the year, however we will continue to see unevenness in our quarterly financial results with the first quarter proving to be challenging.”