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IN THE NEWSForce Protection, Inc. Announces Partnering Agreement with General DynamicsPublisher: Force Protection, Inc.Date: 11/16/2006 LADSON, S.C.--Force Protection, Inc. (OTCBB:FRPT) today announced it has reached an agreement with General Dynamics Land Systems to partner in the production of its Cougar medium mine-protected vehicle. The agreement, which took effect 11/11, marks the first vendor arrangement between the companies. Force Protection will be prime contractor under the agreement, with General Dynamics as subcontractor, using available production capacity at the Joint Systems Manufacturing Center in Lima, Ohio to perform structure fabrication of the vehicle. Force Protection’s Cougar vehicle has been deployed since 2004 in the global war on terror. It was first used by the 1st Marine Expeditionary Force in Falujah, and is now used by all branches of U.S. armed forces due to its unmatched safety record in the field. To date, not a single fatality has occurred in a Force Protection vehicle. “Warfare has changed, and the equipment needed by our troops to stay protected in the face of emerging threats must change with it,” said Force Protection CEO Gordon McGilton. “The blast protection technology incorporated in the Cougar is the best available in the world today. Force Protection is delighted to partner with an organization of the caliber, depth and experience of General Dynamics to ensure the production capacity necessary to get this vehicle to the field in the numbers needed.” General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE:GD), designs, manufactures and supports land and amphibious combat systems for the U.S. Army, U.S. Marine Corps, and allied nations. General Dynamics, headquartered in Falls Church, Virginia, 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; shipbuilding and marine systems; and business aviation. Force Protection has delivered more than 300 blast- and ballistic-protected vehicles to the U.S. government since 2003. For more information on Force Protection and the Cougar, go to www.forceprotection.net. For more information on General Dynamics, go to www.generaldynamics.com. About Force Protection Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. 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 on Force Protection and its vehicles, 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. Back |
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