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FRPT 50M$ contract with US Army
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[QUOTE]Originally posted by Repoman75: [QB] Force Protection Chairman Featured on NASDAQ CEO Signature Series February 21, 2007 Vol. 25 / Issue 01 Force Protection, Inc. Chairman Frank Kavanaugh recently participated in NASDAQ's CEO Signature Series. Mr. Kavanaugh was interviewed by financial reporter Sasha Salama regarding the company's products, its remarkable growth, and emerging opportunities. Excerpts from the interview follow. To view the interview in its entirety, please click on the link. Frank Kavanaugh Participates in NASDAQ's CEO Signature Series - NASDAQ February 13, 2007 Q: Force Protection's key customers are the U.S. Marine Corps and U.S. Army. Is it safe to assume that most of the vehicles are going to the wars in Iraq and Afghanistan right now? A: Actually, our vehicles were designed for a specific type of mission and those in Iraq and Afghanistan are examples of where that mission has occurred. There has been a fundamental shift in the type of equipment that we now fight with. We used to line opposing forces up on two sides and then have a single combative event. Now we're dealing with a different type of warfare, what is known as asymmetrical warfare, where the threat has changed. "So-called "Red Zones" now contain a 360-degree threat where you never know from which direction threats are coming. These threats come in the form of land mines, improvised explosive devices used for a different type of warfare. The Humvee and things like that are not the right type of equipment to deal with that type of threat and that is where our company has made great strides and created a new type of vehicle for the warfare of the future." Force Dynamics Announces $67 Million U.S. Marine Corps Contract - Force Protection, Inc. February 14, 2007 Ladson, SC - Force Dynamics, LLC-a joint venture between Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE: GD)-today announced it has received a $67.4 million contract award from the U.S. Marine Corps to produce 125 vehicles for its Mine Resistant Ambush Protected (MRAP) vehicle program. "These vehicles are a highly effective, proven solution to counter IEDs and other explosive threats," said Marine Corps Systems Command Captain Jeff Landis. "No other vehicle has matched those of Force Protection for troop safety in the field." [/QB][/QUOTE]
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