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FRPT 50M$ contract with US Army
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[QUOTE]Originally posted by Jo4321: [QB] That's great news because this is more Buffalos being delivered under the previous contract. This would be IN ADDITION to the 180 that will be awarded by the Army soon. See http://www.fbo.gov/spg/USA/USAMC/DAAE07/W56HZV07R0343/SynopsisP.html Jo ---------------------------------------- BN 17:01 Force Protection Wins $16.3 Million Marine Corps Truck Order . By Edmond Lococo March 6 (Bloomberg) -- Force Protection Inc., the biggest maker of blast-resistant trucks for the U.S. Marine Corps, won a $16.3 million order to make more of the vehicles used to clear roadways of mines and explosives in Iraq. The latest award funds the production of 19 Buffalo trucks, the largest of three classes of blast-resistant vehicles the service is ordering, Captain Jeffrey Landis, a Marine Corps spokesman, said today in a phone interview. Force Protection's Buffalo mine-protected vehicles have a raised chassis and V-shaped hull to deflect explosive force. The Marines Corps has said it may spend as much as $2 billion buying as many as 4,100 blast-resistant trucks. It gave nine companies prototype development awards for two smaller vehicles last month, and Force Protection was picked as the sole producer of the largest version in November. ``We started with a sole-source award for the Buffalo because Force Protection had the only viable manufacturing solution,'' Landis said. ``We need to produce these vehicles as quickly as possible, while simultaneously working competitive bids for the other vehicles.'' Force Protection is competing for awards to build the smaller trucks with its Cougar vehicle. The Buffalo and Cougar have already logged more than two million hours of heavy combat operations and withstood more than 2,000 explosive attacks since they were first deployed in 2003, the company has said. Force Protection, based in Ladson, South Carolina, was picked by the Marines last month as one of the first two companies to begin low-rate production of the smaller vehicles. It won a $67.4 million contract for 125 of its Cougar trucks. BAE Systems Plc, based in London, received a $55.4 million order for 90 vehicles. Biggest Truck The award that established Force Protection as the only producer of the biggest truck had an initial value of $125 million and included about 44 of the Buffalo and 100 smaller vehicles, Landis said. Work under the latest contract will be completed by September, he said. The Buffalo can carry a crew of 12 passengers and is used to transport explosive ordnance-disposal teams, Landis said. The truck features a large boom arm that can be used to clear debris and suspicious material from roadways, he said. The smaller trucks carry up to 10 passengers and are used for functions ranging from troop transports to ambulances, Landis said. Shares of Force Protection rose less than 1 cent to $15.12 at 4:30 p.m. in New York Stock Exchange composite trading. They have surged eightfold in the past year. [/QB][/QUOTE]
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