Force Protection, Inc. Signs Contract with U.S. Army for 21 Buffalo Mine Protected Clearance Vehicles.Business Editors CHARLESTON, S.C.--(BUSINESS WIRE)--June 3, 2004 Force Protection, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FRCP FRCP Fellow of the Royal College of Physicians. FRCP abbr. Fellow of the Royal College of Physicians ) announced today that the U.S. Army has signed a contract to purchase 21 Buffalo Mine Protected Clearance Vehicles (MPCVs) from the company's Technical Solutions Group (TSG TSG The Smoking Gun (web site) TSG Technology Services Group (UK) TSG Technical Specification Group TSG Timing Signal Generator TSG Technical Support Group TSG Tumor Suppressor Gene TSG ThermoSalinoGraph ) subsidiary. The estimated value of this contract is $15.3 million with an initial release of $7.6 million. The balance of the contract is expected to be released by October 2004. In addition to the 21 Buffalo vehicles, the contract provides for the purchase of steel wheels, disc rollers and a wide range of spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. . The estimated completion date of the contract is year-end 2004. TSG has previously supplied the Army with 13 Buffalos. "We believe that the Buffalo is the finest vehicle of its kind in the world and the Army's purchase of additional Buffalos appears to corroborate To support or enhance the believability of a fact or assertion by the presentation of additional information that confirms the truthfulness of the item. The testimony of a witness is corroborated if subsequent evidence, such as a coroner's report or the testimony of other this belief," said Michael Watts
Michael J. Watts is "Class of 1963" Professor of Geography and Development Studies at the University of California, Berkeley, and in the eyes of some a , Force Protection, Inc.'s 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. . "The repeat order demonstrates the success of the vehicles deployed in the Middle East." Senator Lindsey Graham of South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. added, "Our men and women in uniform deserve the best equipment and training available. The Buffalo will help protect our soldiers from landmines and roadside bombs as they carry out their duties in Iraq and Afghanistan. It's an important vehicle helping our soldiers fulfill critical missions." TSG's Buffalo is a highly advanced Mine Resistant Vehicle with multiple mission configurations and specially designed field reparability rep·a·ra·ble adj. Possible to repair: reparable damage to the car; reparable wrongs. [French réparable, from Latin repar . TSG has combined a proprietary capsule design with American automotive expertise to produce a vehicle with superior blast protection, visibility, load carrying capacity carrying capacity the number of animal units that a farm or area will carry on a year round basis, including that needed for conservation of winter feed. Usually stated as dry cows or dry sheep equivalents per hectare. , interior space and parts availability. The unique technology of the Buffalo protects the vehicle and occupants against small arms fire, multiple anti-personnel mines and anti-tank mines. The steel wheels and disc rollers allow the Buffalo to be driven over and detonate det·o·nate intr. & tr.v. det·o·nat·ed, det·o·nat·ing, det·o·nates To explode or cause to explode. [Latin d anti-personnel mines without damage to the Buffalo. As a result, unusually large numbers of mines can be neutralized in a short period of time. Mr. Brian Green, from the Office of Project Manager for Close Combat Systems, Countermine Division, stationed at Fort Belvoir, Va., said, "A recent incident, involving a Buffalo vehicle, saw it run over an anti-tank mine. The blast, from the detonation, tore off a wheel and destroyed an axle on the vehicle. There were no casualties to the crew inside the Buffalo. It drove itself out of the minefield, was repaired overnight and was back in operation the following day. This is precisely the result experienced with the Buffalo vehicle when we first tested it and now it is delivering those results under fire in both Afghanistan and Iraq. We just need more of them." About Force Protection, Inc. Force Protection, Inc. manufactures and distributes vehicles that protect and save lives and property. Its subsidiary, Technical Solutions Group, Inc., (TSG) manufactures and markets military vehicles that 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). Its mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C.. For more information visit http://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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion