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Just released in their 8-K over the weekend.....
On May 31, 2006 the U.S. Army Tank-Automotive and Armaments Command (?TACOM?) awarded BAE Systems Land & Armaments L.P. of York, Pa (?BAE?) a delivery order in the amount of $180,503,000 as part of a $445,439,000 firm-fixed-price contract for the production and delivery of 378 Iraqi Light Armored Vehicles (?ILAV?) to be delivered to the Iraqi National Army. Force Protection Industries (?FPI?) has an agreement with BAE pursuant to which FPI will license to BAE the use of FPI?s Cougar vehicle as the basis for the ILAV design, and will act as BAE?s principal subcontractor to provide the manpower and other resources needed to produce 50% of the vehicles in Ladson South Carolina. FPI shall also provide 100% of the after sales service and support required under the TACOM agreement. FPI is in the process of finalizing the detailed terms and conditions of the subcontract with BAE, which will have an estimated value to FPI of approximately $55,000,000.
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