Force Protection Inc. [FRPT] yesterday said it reached a significant milestone during 2010 with the receipt to date of more than $1 billion in new orders.
“This important milestone is the result of the hard work and attention that we placed on a number of initiatives during 2010. Randy Hutcherson, chief operating officer for the group’s Force Protection Industries, Inc., said in a statement.
A $13.4 million modification to a U.S. Marine Corps Systems Command contract on Wednesday to provide additional field service support propelled the total orders received during 2010 beyond the $1 billion mark.
Of the orders received, approximately 53 percent were associated with modernization, spares and sustainment for the company’s installed fleet of over 4,500 vehicles worldwide. New vehicle orders accounted for approximately 47 percent of the total.
Hutcherson said the efforts included continued expansion of the company’s Kuwait operations and leaning forward in Afghanistan to capitalize on opportunities to provide much needed upgrades and modernization on its existing fleet of vehicles and MRAPs supplied by other OEMs, as well as providing spares and sustainment for vehicles in the ongoing operations in Iraq and Afghanistan.
“Just as important was our focus on obtaining additional Buffalo and Cougar vehicle orders, as well as the design, development and successful marketing of the Ocelot for competition in, and ultimate contract award for, the United Kingdom’s Light Protected Patrol Vehicle program in which deliveries are scheduled to begin in the second half of 2011,” Hutcherson said.
Michael Moody, chairman and chief executive officer of Force Protection Inc., said the milestone was a direct reflection on the significant efforts the company has undertaken to further differentiate Force Protection in the marketplace.
“As we have done with the development of the uniquely-positioned Ocelot, Force Protection will continue to leverage its innovative and nimble operating culture to provide our customers with exceptional survivability solutions and ensure that the troops have the best resources available to promote success on the battlefield,” Moody added.