posted
LADSON, S.C.--(BUSINESS WIRE)--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.
posted
The 52 week range on this bad boy is from .69 - over $9.00????
Wow. Nice play guys, congrats.
U2 Repo....
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
| IP: Logged |
posted
Repo dude you got 5 stars from me this morning, but some how I don't think it'll move those 2 stars up, LOL. Too bad, you do give good picks some of the same ones I see.
Especially SIGA, now with FRPT heading to Nasdaq, I'm on it like white on rice
-------------------- Best Regards and Good Trading Posts: 239 | From: Florida City, FL | Registered: Jul 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
![[Eek!]](eek.gif)
