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Force Protection Receives $64.1 Million Award for Additional Vehicle Modernization

August 23, 2010 by · Comment
Filed under: Syndicated Industry News 

LADSON, S.C.–(BUSINESS WIRE)–Force Protection, Inc. received a modification to existing contract M67854-07-D-5031 with an approximate value of $64.1 million for seat survivability upgrade kits for 1,946 MRAP Cougar vehicles.



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Albania Buys Eurocopters

The former Eastern European satellite countries of the Soviet Union have made a hodgepodge of strides over the last twenty years to a more modern military. Some of the more Western ones like Czech Republic and Hungary have begun buying NATO standard weapons and equipment. Others due to their poor economies and situations have not been able to do much.

It was announced yesterday that Albania which is one of the poorest countries in Europe will spend what must be a significant portion of their defense budget on five Eurocopter aircraft. The Cougar medium transports will be delivered in about three years at a cost of almost $100 million. They will represent a major upgrade over what old and less capable Russian Mil aircraft.

The market in this part of Europe had been hoped to be a big one for U.S. and European defense contractors. Unfortunately the global recession along with economic and political problems has limited the amount of funds available to be spent on new weapons. Perhaps as NATO continues its expansion and the world’s economy picks up there will be more orders like this.

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Has Force Protection Turned the Corner?

It has been a good few weeks for Force Protection. First they set up the joint venture withe British company Morgan Crucible JV to produce new armored support vehicles for the British military. Then they won a contract from Hungary for three Cougar vehicles plus support. While this is not a large contract it may certainly lead to other contracts from the new Eastern European NATO countries. Now it is reported that they have won a contract from the U.S.M.C. for upgraded MRAP vehicles. The big prize that is still out there is the MRAP-ATV contract which will build a new, lighter and more maneuverable vehicle for use in Afghanistan. Force Protection had been losing work in 2007-2008 after a big boom in 2005 and out due to the rapid demand for MRAP driven by the reaction from Congress to the IED threat. The company’s stock declined rapidly and there was a shareholder suit filed. If the company can keep up this pace and win some of the MRAP-ATV work then it will have a solid future for the next few years. Depending on how the new budget integrates MRAP and the future replacement for the FCS requirement there might be more work there for a long time. More to come on this for sure.

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Force Protection Awarded $82.3 Million for Independent Suspension Upgrades

December 31, 1969 by · Comment
Filed under: Syndicated Industry News 

LADSON, S.C.–(BUSINESS WIRE)–Force Protection, Inc. (NASDAQ: FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received an $82.3 million modification to contract M67854-07-D-5031 from the United States Marine Corps Systems Command for independent suspension system (ISS) kits for Cougar vehicles. The modification is subject to definitization. Work will be performed at the MRAP Sust



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Force Protection Receives $24 Million Award for 30 Cougar Vehicles

December 31, 1969 by · Comment
Filed under: Syndicated Industry News 

LADSON, S.C.–(BUSINESS WIRE)–Force Protection, Inc. (NASDAQ: FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received contract M67854-10-C-5133 from United States Marine Corps Systems Command (MARCORSYSCOM) for approximately $24 million for 30 Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles including Field Service support. The contract is a Foreign Military Sal



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Force Protection Receives $10.8 Million Award for Additional Modernization of Cougar Fleet

December 31, 1969 by · Comment
Filed under: Syndicated Industry News 

LADSON, S.C.–(BUSINESS WIRE)–Force Protection, Inc. (NASDAQ:FRPT), a leading designer, developer and manufacturer of survivability solutions and provider of total life cycle support for those products, today announced it has received a modification to contract M67854-07-D-5031 from the United States Marine Corps Systems Command for additional modernization of the U.S. military’s Cougar fleet. The approximate $10.8 million firm, fixed price contract modification includes the design and purchase



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