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IN THE NEWSForce Protection Opens New Facility in North CarolinaPublisher: Force Protection, Inc.Date: 11/30/2007 Force Protection, Inc. (NASDAQ:FRPT) today celebrated the dedication of its new manufacturing facility in Roxboro, North Carolina for production of the Company’s Cheetah vehicle. North Carolina Senators Elizabeth Dole and Richard Burr, along with Congressman Brad Miller, joined employees, Company leaders and business associates in the ceremony and open house. "We are so pleased to welcome Force Protection to our great state," said Senator Dole. "This facility will not just benefit the local economy and create good North Carolina jobs - the folks working here will build bomb-resistant vehicles that are absolutely critical to keeping our men and women in combat safe." Force Protection's 430,000 square foot state-of-the-art facility is expected to employ approximately 270 people upon reaching full capacity. The total cost for the Roxboro facility’s assembly line was approximately $31 million. "Force Protection has experienced tremendous growth during the past year, and in light of our increasing production rates, this new location will enable us to better service our customers," said Raymond W. Pollard, Chief Operating Officer. On November 28th, the Company celebrated the delivery of its 1,000th vehicle for the MRAP program at a ceremony held in Ladson, South Carolina with Senator Lindsey Graham, Captain Joe Manna from the Defense Contract Management Agency, and Mr. Paul Mann, MRAP Program Manager representing the U.S. Department of Defense. About Force Protection, Inc. Force Protection, Inc. was the first to respond to the urgent need to bring lifesaving mine-resistant ambush protected vehicles to U.S. troops in combat. The Company is a leading American manufacturer of ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company’s specialty vehicles, the Cougar and the Buffalo, each have a proven track record where it matters most - in the battlefield. The Company’s newest vehicle, the Cheetah, is designed specifically for reconnaissance, forward command and control, and urban operations, and combines state-of-the-art ballistic and blast protection with the mobility of a unique light-armored vehicle. These specialty vehicles, which the Company believes are in the forefront of blast-resistant technology, are designed to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company is one of the primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information on Force Protection and its vehicles, visit www.forceprotection.net. This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to expected production under awarded contracts and the number of vehicles we will manufacture. The Company generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the Company’s Form 10-K and Form 10-Q for the quarter ended September 30, 2007 and other reports filed with the Securities and Exchange Commission. Although management believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company’s future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in expectations, except as required by law. Back |
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