Force Dynamics Announces $67 Million U.S. Marine Corps Contract.LADSON, S.C. -- Force Dynamics, LLC--a joint venture between Force Protection, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FRPT FRPT Force Protection, Inc. (stock symbol) ) and General Dynamics General Dynamics Corporation (NYSE: GD) is a defense conglomerate formed by mergers and divestitures, and as of 2006 it is the sixth largest defense contractor in the world[1]. The company has changed markedly in the post-Cold War era of defense consolidation. Land Systems, a business unit of General Dynamics Corporation (NYSE NYSE See: New York Stock Exchange :GD)--today announced it has received a $67.4 million contract award from the U.S. Marine Corps to produce 125 vehicles for its Mine Resistant Ambush Protected (MRAP MRAP Mine Resistant Ambush Protected (military vehicle) MRAP Mouvement contre le Racisme et Pour l'Amitié entre les Peuples (French antiracism movement) MRAP Melanocortin-2 Receptor Accessory Protein ) vehicle program. Under this latest delivery order, Force Dynamics will produce 65 Category I and 60 Category II MRAP vehicles that will be used by all branches of the armed forces. Force Dynamics also announced it will deliver the vehicles within the next 120 days. The MRAP competitive action for the first year's estimated requirement for 4,100 vehicles has an approximate value of $2 billion. "This is a huge development for Force Dynamics," said Force Protection COO Raymond Pollard. "This joint venture was formed precisely for this purpose: to mobilize quickly on any action item announced by the Marines as the MRAP program moves forward. With advanced proprietary vehicle designs and significant manufacturing capacity, Force Dynamics has the capability to make an immediate and strategically important impact on the war on terror This article is about U.S. actions, and those of other states, after September 11, 2001. For other conflicts, see Terrorism. The War on Terror (also known as the War on Terrorism while establishing itself as a leader in the U.S. defense industry. We look forward to further supporting this program as it issues future contracts." "Our team is committed to the rapid delivery and fielding of Mine Resistant Armor Protected vehicles to the Marine Corps," said General Dynamics Land Systems' Ground Combat Systems Senior Vice President Mark Roualet. "The joint venture management team is in place; our processes are established and tested; we look forward to supporting this critical effort." Force Protection's Cougar cougar: see puma. cougar or puma or mountain lion or panther Species (Puma concolor) of large, graceful cat that lives in a wide variety of habitats in the Americas, from southern Alaska to Patagonia. and Buffalo vehicles have been deployed with U.S. and Allied forces in Iraq and Afghanistan since 2003. The vehicles have withstood more than 2,000 IED Noun 1. IED - an explosive device that is improvised I.E.D., improvised explosive device explosive device - device that bursts with sudden violence from internal energy and mine attacks, and are credited by soldiers with saving lives. "These vehicles are a highly effective, proven solution to counter IEDs and other explosive threats," said Marine Corps Systems Command Marine Corps Systems Command (MARCORSYSCOM) is located at MCB Quantico. Mission Serve as the Commandant's principal agent for acquisition and sustainment of systems and equipment used by the operating forces to accomplish their warfighting mission. Captain Jeff Landis. "No other vehicle has matched those of Force Protection for troop safety in the field." About Force Protection Force Protection manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . These specialty vehicles are protected against landmines, hostile fire In insurance law, a combustion that cannot be controlled, that escapes from where it was initially set and confined, or one that was not intended to exist. A hostile fire differs from a friendly fire, which burns in a place where it was intended to burn, such as one confined , and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, go to www.forceprotection.net. About General Dynamics General Dynamics Land Systems, a business unit of General Dynamics (NYSE:GD), designs, manufactures and supports land and amphibious combat systems for the U.S. Army, U.S. Marine Corps, and allied nations. Headquartered in Falls Church, Va., General Dynamics employs approximately 81,100 people worldwide and expects 2006 revenue of approximately $24 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions mu·ni·tion n. War materiel, especially weapons and ammunition. Often used in the plural. tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions To supply with munitions. ; shipbuilding and marine systems; and business aviation. More information on General Dynamics can be found online at www.generaldynamics.com. This release contains forward-looking statements, including, without limitation, statements concerning the businesses, future plans and objectives and the performance of their products. These forward-looking statements involve certain risks and uncertainties which ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The companies caution that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the companies' Forms 10-K or 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The companies undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law. |
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