Force Protection to Open Total Life Cycle Support Facility in Kuwait
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LADSON, S.C.--(Business Wire)-- Force Protection, Inc. (NASDAQ:FRPT), a leading developer of survivability solutions, today announced that it has signed a lease and will soon open a total life cycle support facility in Kuwait. This strategically located facility in Mina Abdullah, Kuwait includes warehousing, administrative offices, and depot services. The facility is designed to support the ongoing need to modernize, repair, service, supply, and conduct training for the Company`s deployed fleet of vehicles in Iraq, Afghanistan and throughout the Middle East and Central Asia. The Company noted that this facility will immediately and specifically enable it to greatly shorten response times for spare parts, enable it to better serve the route clearance and other MRAP programs, and will serve as a forward logistics station for staging and installation of upgrade kits. With respect to training, the Company noted that it will provide maintenance and repair training as well as Operational New Equipment Training (OPNET) to ensure that the war-fighter achieves a high level of competence with and can fully exploit the enhanced operational capabilities of the upgraded vehicles. James Grazioplene, Force Protection`s Executive Vice President, Total Life Cycle Support, commented, "We believe that this new facility will enable us to more rapidly and effectively serve the needs of our customers. It will enhance our logistical supply chain, improve our competitive position, and enable us to further increase our excellent level of operational readiness for our fleet. The ability to rapidly upgrade our fleet of vehicles, in theatre, will ensure the fastest possible implementation of new survivability technologies to the war fighter. We are also enthusiastic about the ability to train both our field service representatives and the war-fighter in critical skill areas for the operation and maintenance of our fleet of vehicles." About Force Protection, Inc. Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly blast- and ballistic-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company`s specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company also is the developer and manufacturer of ForceArmor, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. The Company is one of the original developers and primary providers of vehicles for the U.S. military`s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information on Force Protection and its vehicles, visit www.forceprotection.net. Force Protection, Inc. Safe Harbor Language This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection`s management, and on information currently available to management. These forward looking statements include, among other things: the growth and demand for Force Protection`s vehicles, including the Tactical Supply Vehicle, the ForceArmor kits and the M-ATV Cheetahs; the rate at which the Company will be able to produce these vehicles and products; the Company`s ability to develop new technologies and products, and the effectiveness of these technologies and products; the Company`s execution of its business strategy and strategic transformation, including ability to right-size its manufacturing base and diversify the range of its product offerings and utilize world-class partners; and the Company`s expected financial and operating results, including its revenues and cash flow, for future periods. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, ability to effectively manage the risks in the Company`s business; the ability to develop new technologies and products and the acceptance of these technologies and products; the ability to obtain new orders for its vehicles and products; the Company`s ability to identify and remedy its internal control weaknesses and deficiencies, and other risk factors and cautionary statements listed in the Company`s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company`s Annual Report on Form 10-K for the year ended December 31, 2008, as updated in the Quarterly Report on Form 10-Q for the period ended March 31, 2009. Force Protection, Inc. Tommy Pruitt, 843-574-3866 Senior Communications Director or Investor Relations: ICR Inc. James Palczynski, 203-682-8229 Principal and Director Copyright Business Wire 2009
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