(NSI News Source Info) TORONTO, Canada - September 1, 2011: Force Protection Industries, Inc., a FORCE PROTECTION, INC. (NASDAQ:FRPT - News) group company, today announced the submission of a bid and test vehicle to the Canadian Forces for the Tactical Armoured Patrol Vehicle (TAPV) project.
Force Protection is offering the Canadian Forces a 6x6 variant of the battle proven Cougar wheeled combat vehicle developed by Force Protection to meet the TAPV requirements. Force Protection will be the design authority and have overall responsibility for the acquisition contract to supply the TAPV vehicles and maintain configuration control.
As Force Protection's main Canadian partner, CAE will have overall responsibility for the comprehensive in-service support (ISS) solution, including: vehicle operator and mission training systems; engineering information environment; fleet management services; systems engineering support; and, lifecycle and integrated logistics support services. CAE will also be responsible for assembling a pan-Canadian team of companies to develop and support any country-specific requirements for Canada's replacement fleet of tactical armored patrol vehicles.
Force Protection and CAE previously announced a collaboration that includes Elbit Systems as the provider for a dual remote weapons system (DRWS) and Lockheed Martin Canada as the provider of C4ISR suite for the Timberwolf vehicle. Elbit Systems' Land and C4I DRWS was chosen based on its superior performance, reliability and ease of integration. Lockheed Martin Canada was chosen as the C4ISR integrator for Timberwolf based on its recognized capability in the development, production and support for integrated C4 systems.
Randy Hutcherson, Chief of Business Development for Force Protection, said, "Partnered with CAE, Force Protection is pleased to formally submit Timberwolf as the optimal solution for the TAPV project. Along with our key providers, we are committed to offering the Canadian Forces a highly-protected and reliable vehicle, as well as Industrial and Regional Benefits that will contribute to investment in Canadian industry and provide further experience and capability in the armored vehicle market."
A contract award to the final selected bidder for the TAPV requirement is currently expected by the second quarter of 2012.
About Force Protection, Inc.
Force Protection, Inc. is a leading designer, developer and manufacturer of survivability solutions, including 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, including the Buffalo, Cougar, Ocelot and the related variants of each, are designed specifically for reconnaissance and other operations and protect their occupants from landmines, hostile fire, and improvised explosive devices (commonly referred to as roadside bombs). Complementing these efforts, the Company is designing, developing and marketing the JAMMA, a new vehicle platform that provides increased modularity, transportability, speed and mobility. The Company also develops, manufactures, tests, delivers and supports products and services aimed at further enhancing the survivability of users against additional threats. In addition, the Company provides long-term life cycle support services of its vehicles that involve development of technical data packages, supply of spares, field and depot maintenance activities, assignment of skilled field service representatives, and advanced driver and maintenance training programs. For more information on Force Protection and its products and services, visit www.forceprotection.net.
Force Protection's Safe Harbor Statement
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, demand and interest for Force Protection's services and products, including the Cougar and Timberwolf; expectations for future programs and the related timing of proposals and awards; the ability to meet current and future requirements; the ability to drive manufacturing and operational efficiencies; and, the Company's execution of its business strategy, including its development initiatives and opportunities to broaden its platform. 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, the ability to effectively manage the risks in the Company's business; the ability to win future awards and finalize contracts; and the 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, 2010 and Form 10-Q for the three and six months ended June 30, 2011.
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