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FRPT 50M$ contract with US Army
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[QUOTE]Originally posted by Jo4321: [QB] [QUOTE] I just sold off my the last of my earliest shares that I got for $2.19 at $4.55. YEEHAW, a double! I sold off 300 remaining shares in my dh's IRA for $4.63 [/QUOTE]There goes my impeccable bad timing again. FRPT now over $5.00. Pentagon sees rising mine-resistant truck needs Wed Dec 19, 2007 3:05pm EST By Kristin Roberts WASHINGTON, Dec 19 (Reuters) - U.S. commanders in Afghanistan have asked for more mine-resistant trucks, which could boost the number of vehicles the Pentagon will purchase above 15,374, the Defense Department said on Wednesday. The Pentagon has about 12,000 so-called Mine-Resistant Ambush-Protected (MRAP) vehicles under contract, including Tuesday's $2.6 billion order. The department's total requirement remains 15,374 despite a Marine Corps decision to reduce the number it purchases, said Pentagon press secretary Geoff Morrell. The Army is reevaluating its need for MRAPs too, given both the improved security situation in Iraq and the planned growth in the size of that branch of the U.S. military. Even if the Army decides to trim its purchases, Morrell said the total Defense Department requirement for MRAPs could still climb. "We do not believe that the joint requirement, even if those (Army) needs are adjusted, would have to be adjusted downward. If anything, at this point, the thinking is the joint requirement may increase." "I can tell you, just this week, for example, that commanders in Afghanistan are of the mind that perhaps they would like more in Afghanistan than they originally requested," he said. Commanders in that war zone originally asked for about 500 MRAPs and now want about 600, Morrell said. The request is being evaluated by the Pentagon and U.S. Central Command, which is responsible for U.S. military operations in Afghanistan. MRAPs are designed to protect U.S. soldiers from roadside bombs, small arms fire and other explosive threats. U.S. Defense Secretary Robert Gates made the vehicles the top acquisition priority of the Pentagon earlier this year in a bid to reduce U.S. military casualties in Iraq. The vehicles, however, are not as easily maneuvered as other armored trucks, making them less useful in rough and hilly terrain, such as that found in Afghanistan. "Despite whatever limitations there might be on these vehicles, they are proving to be extraordinarily valuable, life saving and the commanders in Afghanistan seem to want more of them," Morrell said. The Pentagon also said on Wednesday it would meet its goal of having 1,500 MRAPs in Central Command's area of operations, which covers Iraq and Afghanistan, by the end-2007. Morrell said about 1,525 would be in that area by Thursday. MRAP contractors include: -- Navistar International Corp's (NAVZ.PK: Quote, Profile, Research) International Military and Government LLC; -- Force Protection Inc (FRPT.O: Quote, Profile, Research), which is partnered with General Dynamics Corp.'s (GD.N: Quote, Profile, Research) Land Systems business arm; -- a General Dynamics Canadian unit; -- BAE Systems Plc (BAES.L: Quote, Profile, Research); -- Oshkosh Truck Corp (OSK.N: Quote, Profile, Research); -- closely held Protected Vehicles Inc of North Charleston, South Carolina. (Editing by Richard Chang) © Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world. [/QB][/QUOTE]
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