General Dynamics Receives $245 Million for Mine-Protected Vehicle Work
Joint venture with Force Protection, Inc.,shares $490 million program award
STERLING HEIGHTS, Mich. – General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), has received a work order for $244.5 million of a $490 million contract awarded to Force Protection, Inc. (NASDAQ:FRPT) on April 24 to produce 1,000 vehicles for the U.S. Marine Corps’ Mine Resistant Ambush Protected (MRAP) vehicle program.
Force Protection and General Dynamics have formed a joint venture, Force Dynamics, to share in the production and program management of the MRAP contact.
This latest MRAP delivery order purchases Force Protection’s category I 4X4 and category II 6X6 Cougar vehicles. Manufacturing will be performed in Anniston, Alabama; Charlotte, Michigan; Ladson, South Carolina; Lima, Ohio; Kings Point, North Carolina; and Sealy, Texas.
About Force Protection
Force Protection manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary. These specialty vehicles are protected against landmines, hostile fire, and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, go to www.forceprotection.net.
About General Dynamics
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 82,600 people
worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available online at www.generaldynamics.com.
April 30, 2007
Contact: Peter M. Keating
Tel: (586) 825-7930
Email: keating@gdls.com
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