Rochester,NY 7/7/2009 4:10:44 AM
After Market - FRPT -Force Protection, Inc. Awarded $70 Million of Contracts to Install Cougar Independent Suspension Upgrade Kits- Sourced WhisperFromWallStreet.com
Force Protection Inc
After Market - FRPT -Force Protection, Inc. Awarded $70 Million of Contracts to Install Cougar Independent Suspension Upgrade Kits- Sourced WhisperFromWallStreet.com
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Force Protection Inc.FRPT
After Hours: 5.09 Up 0.0080 (0.16%) 4:12PM ET
The Phase 1 award under modification to Contract M67854-07-D-5031 from the United States Marine Corps Systems Command was made on June 16, 2009 for $21.4 million and the Phase 2 was awarded on Friday, July 2, 2009 for an additional $48.9 million. The work is expected to be completed prior to February, 2010 and will be performed by both Force Protection’s staff of field service representatives (FSR) and by FSRs from Oshkosh Corporation (NYSE: OSK - News) under subcontract to Force Protection. The modification for the purchase of the hardware associated with this installation work was awarded on April 8, 2009 in the amount of $158.1 million, bringing the total cost for this independent suspension upgrade program, thus far, to approximately $228 million. The awards under these contract modifications are subject to definitization.
About
Force Protection, Inc., together with its subsidiaries, engages in the design, manufacture, testing, and delivery of blast and ballistic protected vehicles that support armed forces and security personnel in harm's way. The company?s products include mine protected clearance vehicles, which are used for route clearing operations; medium-sized blast and ballistic protected vehicles, which facilitate troop transport, command and control, route reconnaissance, convoy escort, and casualty evacuation operations; and 4-wheeled vehicles for reconnaissance, forward command and control, and urban operations. It also offers Armor Kit/ForceArmor, an external ballistic protection module that protects from explosively formed projectiles. In addition, the company provides ongoing life cycle support in the areas of logistics engineering, acquisition logistics, and operational logistics. Force Protection, Inc. offers its products under the Buffalo, Cougar, and Cheetah platforms. It principally serves the U.S. Army, the U.S. Marine Corps, and the U.S. Department of Defense. The company has a joint venture agreement with NP Aerospace Ltd. Force Protection, Inc. was founded in 1996 and is headquartered in Ladson, South Carolina
Last Trade: 5.08
Day's Range: 4.92 - 5.41
52wk Range: 1.70 - 10.03
Volume: 3,491,202
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