LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ:FRPT) today announced that Congress has approved two Cougar Foreign Military Sales to the United Kingdom. The first contract for six Cougar Category I Mine Resistant Ambush Protected (MRAP) vehicles and associated services was awarded on April 29. The second contract for 151 Cougar MRAP vehicles and associated services was awarded on May 1. The total value of the contracts for the 157 vehicles, named Ridgebacks by the British, is approximately $94 million. These contracts are not subject to the terms of Force Protection’s joint venture.The size of this order if comparable to what the Pentagon ordered from Force Protection in Dec. of 2007.
(Read more at Business Wire)
The number of vehicles is about half the December order. The dollar amount is substantially less ($94 million to $380 million) apparently because the 4x4 Cougar is less expensive than the 6x6--not to discount additional explanations.
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