Press release from PR Newswire
Force Protection and CAE Partner to Offer Solution for Canada's Wheeled Combat Vehicle Requirement
Monday, May 09, 2011
Force Protection and CAE Partner to Offer Solution for Canada's Wheeled Combat Vehicle Requirement15:35 EDT Monday, May 09, 2011~Teaming to Pursue Tactical Armoured Patrol Vehicle (TAPV) Project~LADSON, S.C. and MONTREAL, May 9, 2011 /PRNewswire/ -- Force Protection Industries, Inc., a FORCE PROTECTION, INC. (Nasdaq: FRPT) group company, and CAE (TSX: CAE, NYSE: CAE) today announced the companies have entered into a teaming agreement to compete for the Canadian Forces Tactical Armoured Patrol Vehicle (TAPV) project. (Logo: http://photos.prnewswire.com/prnh/20110321/CL67729LOGO )(Logo: http://photos.prnewswire.com/prnh/20110509/CL98016LOGO )Force Protection Industries, Inc. previously announced that it has been selected by the Canadian Government as one of the competitor companies qualified to provide up to 600 wheeled combat vehicles and related long term support services. The Canadian Department of National Defence (DND) expects to award a contract to the final selected bidder by early 2012.Randy Hutcherson, Chief Operating Officer of Force Protection, said, "We are pleased to partner with CAE, a global leader and one of Canada's most respected companies, to provide what we believe is the optimal solution for the TAPV project. Force Protection and CAE are committed to offering the Canadian Forces the safest and most reliable vehicle and to provide Industrial and Regional Benefits (IRB) that will contribute to the continuing viability of Canadian companies' capability and improve their competitiveness in both the domestic and international markets while continuing to strongly invest in the Canadian industry. We are looking forward to working with CAE as they have a wide range of capabilities and in-service support experience that will help us shape a winning technical, support, and industrial and regional benefit solution for the Canadian government." Force Protection is offering the Canadian Forces variants of the Cougar wheeled combat vehicles to meet TAPV requirements. As the main Canadian partner, CAE would 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 would 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 armoured patrol vehicles."We look forward to partnering with Force Protection to develop a comprehensive in-service support solution for Canada's TAPV program," said Martin Gagne, CAE's Group President, Military Products, Training and Services. "We have a wealth of experience in comprehensive in-service support solutions, as we have demonstrated over many years for Canadian Forces air, land, and sea platforms. This partnership with Force Protection will produce a turnkey solution that is flexible, high-performing, cost-effective, and most importantly, supports our Canadian Forces in performing their missions safely." 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 related variants, are designed specifically for reconnaissance and urban operations and to 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.About CAECAE is a world leader in providing simulation and modelling technologies for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.5 billion, CAE employs more than 7,500 people at more than 100 sites and training locations in more than 20 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 32 civil aviation, military and helicopter training centres, we train more than 80,000 crewmembers yearly. We offer comprehensive in-service support solutions to the air, land and sea domains, modelling and simulation software to various market segments and, through CAE's professional services division, we assist clients in applying simulation to analysis, training and operations. www.cae.comForce Protection Contacts:Tommy Pruitt, Senior Director, Communications, (843) 574-3866, firstname.lastname@example.orgInvestor relations: Wes Harris, Director, Investor Relations, (843) 574-3892, email@example.comCAE Contacts:Nathalie Bourque, Vice President, Public Affairs and Global Communications, (514) 734-5788, firstname.lastname@example.org Trade media: Chris Stellwag, Director, Marketing Communications ? Military, (813) 887-1242, email@example.com Investor relations: Andrew Arnovitz, Vice President, Investor Relations and Strategy, (514) 734-5760, firstname.lastname@example.org Force Protection, Inc. Safe Harbor StatementThis 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 vehicles; the ability to meet current and future requirements; and, the Company's execution of its business strategy and strategic transformation, including its opportunities to grow the business. 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; the ability to develop new technologies and products and the acceptance of these technologies and products; 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. SOURCE Force Protection, Inc.