Force Protection, Inc. Production Rates Reach Record Levels in February.LADSON, S.C. -- Armored vehicle manufacturer 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) ) today announced that its production rates reached record levels as it delivered more 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. vehicles to the U.S. government in February. "We've once again broken our monthly vehicle delivery record," said Force Protection Vice President for Vehicle Programs Damon Walsh. "We will continue working to expand our monthly production to meet the expected increase in orders for our vehicles." Force Protection's Buffalo and Cougar mine-protected vehicles have logged more than two million hours of heavy combat operations and have withstood in excess of 2,000 explosive attacks since they were first deployed in 2003. "All of our production programs are on or ahead of schedule," said Walsh. "We have fully completed the Cougar Joint Explosive Ordnance Disposal The detection, identification, on-site evaluation, rendering safe, recovery, and final disposal of unexploded explosive ordnance. It may also include explosive ordnance which has become hazardous by damage or deterioration. Also called EOD. Rapid Response Vehicle (JERRV JERRV Joint Explosive Ordnance Disposal Rapid Response Vehicle ) program requirements and are delivering ahead of schedule on our Buffalo and Iraqi Light Armored Vehicle (ILAV) contracts. This month also marks the first deliveries of Mine Resistant Ambush Protected (MRAP MRAP Mine Resistant Ambush Protected (military vehicle) MRAP Mouvement contre le Racisme et Pour l'AmitiĆ© entre les Peuples (French antiracism movement) MRAP Melanocortin-2 Receptor Accessory Protein ) vehicles for both the sole source and competitive contracts. In the next two months, as we finish the UK Cougar Mastiff mastiff (măs`tĭf), breed of very large, powerful working dog developed in England more than 2,000 years ago. It stands from 27 to 33 in. (68.6–83.8 cm) high at the shoulder and weighs from 165 to 185 lb (74.9–83.9 kg). contract, Force Protection will stand ready to devote our full capacity to meet the needs of the Mine Resistant Ambush Protected (MRAP) program." Force Protection, through its joint venture company, Force Dynamics, LLC, with General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE NYSE See: New York Stock Exchange :GD), was awarded an initial delivery order for 125 Cat I and Cat II vehicles from the U.S. Marine Corps under the MRAP program on February 14, 2007. This followed Force Protection's sole source award for 200 MRAP Cat II and 80 Cat III vehicles last November. About Force Protection 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 landmines, 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 outside Charleston, S.C. For more information, go to www.forceprotection.net. 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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