Force Protection, Inc. Expands Production Capacity Through Engineering Alliance.LADSON, S.C. -- Force Protection, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FRPT FRPT Force Protection, Inc. (stock symbol) ), manufacturer of the Buffalo and 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. armored vehicles deployed with U.S. armed forces in Iraq and Afghanistan, today announced a services contract with Ricardo plc, a leading international automotive consultancy. Under the terms of the alliance, Ricardo will provide an integrated bill of materials The list of components that make up a system. For example, a bill of materials for a house would include the cement block, lumber, shingles, doors, windows, plumbing, electric, heating and so on. including Spartan Chassis assemblies and subassemblies in the Cougar product line, automated drawings and model updates, design releases, and vehicle validation tasks for the Joint EOD EOD abbreviation for every other day; used in medical records. Rapid Response Vehicle (JERRV JERRV Joint Explosive Ordnance Disposal Rapid Response Vehicle ). Ricardo will receive an estimated $1.68 million for its services and materials. "We are extremely pleased to work with a world-class organization like Ricardo," said Force Protection CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gordon McGilton. "Their expertise will be invaluable to us as we continue our rapid growth and expand production capacity to meet the constantly-increasing demand for our vehicles." Force Production was recently awarded a joint contract by the Department of Defense for more than 120 Cougar JERRV vehicles funded by the Joint 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 Defeat Task Force. Its vehicles have been in active operations for more than two years in support of Operations Iraqi Freedom and Enduring Freedom. "This is an exciting time for Force Protection, as our manufacturing structure becomes larger," said Force Protection Industries President Ted McQuinn. "Ricardo brings a wealth of experience and a knowledge base in engineering technology that will greatly assist us as we address the needs of this joint order." With technical centers in the United States, United Kingdom, Germany and the Czech Republic, Ricardo provides innovative technology, engineering services and strategic consulting to automotive industries around the world. About Force Protection, Inc. Force Protection, Inc. 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 land mines, hostile fire, 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 near Charleston, S.C. For more information, visit http://www.forceprotectioninc.com. This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties 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 company cautions that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company 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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