Force Protection wins $106.9m award for ISS kits
Force Protection Industries, Inc., a FORCE PROTECTION INC. group company, today announced that it has received a firm fixed price modification to existing contract M67854-07-C-5031 from US Marine Corps Systems Command with a total value of approximately $106.9 million for the purchase of 1,000 independent suspension system ("ISS") kits. The award consists of 650 ISS kits for Cougar Category I vehicles and 350 ISS kits for Cougar Category II vehicles. Delivery of the kits is expected to begin in the Company's 2011 third quarter and be completed by December 31, 2011.
Randy Hutcherson, Chief Operating Officer for Force Protection Industries, Inc., said, "The Cougar with independent suspension continues to perform exceptionally well in Afghanistan, and this award is another clear indicator of how vital the Cougar is to the troops in theater. The delivery of these kits and subsequent installation will help ensure that our Cougar vehicles continue to perform critical missions in extremely rugged areas."
The combination of today's announcement, other awards previously secured in 2011, and the portion of funded backlog at December 31, 2010 that is anticipated for delivery this year, results in solid visibility for the Company's previously disclosed outlook for 2011. As such, the Company reiterates its expectation of year-over-year growth in total revenue and earnings, with the majority of its 2011 full year financial results anticipated to be recorded in the second half of the year. Similar to 2010, the Company continues to expect its fourth quarter will be the most financially significant of 2011.
Source: Force Protection
More from Land Warfare
-
Arquus and Milrem push their UGVs fitted with long-range missiles
Arquus displayed the Drailer uncrewed ground vehicle (UGV) integrating the Akeron LP long-range missile at the Techterre technology demonstrator event ahead of trials in September.
-
Czech CAESAR howitzer order at risk of cancellation
The Czech Republic ordered 52 CAmion Equipé d’un Système d’ARtillerie (CAESAR) self-propelled howitzers (SPHs) in 2021 and added another 10 a year later. A cancellation of the programme would impact both the army’s capabilities and local industry which is involved in the manufacture.
-
Sweden turns to Nammo and Rheinmetall as world demand grows for 155mm shells
Demand for ammunition continues to increase with manufacturing capability growing to match. Sweden have turned to the two supply lines of Rheinmetall and Nammo as part of a Nordic effort to meet demand. The Polish Government has also announced a US$700 million investment to boost manufacture of munitions.
-
Malaysia signs for two additional GM400α air surveillance radars
The order is in addition to two systems ordered in 2023. It forms part of a family of systems which is becoming widely used and part of a growing demand for the capability, both in deliveries and requirements.
-
US Army’s Precision Strike Missile moves into production phase after test successes
Lockheed Martin’s Precision Strike Missile (PrSM) is a next-generation surface-to-surface missile system and is a planned replanned replacement for MGM-140 Army Tactical Missiles System (ATACMS). It is to be fired from M142 High Mobility Artillery Rocket System (HIMARS) launchers.