Monday, August 07, 2006

FRPT: Protecting Our Most Valuable Assets

So far 2,567 American soldiers have died in Iraq, many of these from roadside bombs. We know that these are possibly one of the biggest threats facing our soldiers in Iraq. In 2004, Army Spc. Thomas Wilson, facing deployment in Iraq, asked Defense Secretary Donald Rumsfeld, “why do we soldiers have to dig through local landfills for pieces of scrap metal and compromised ballistic glass to uparmor our vehicles”? The surrounding 2,300 troops gathered to listen cheered when the question was asked. It was a question very articulately stated by a soldier facing uncertainty in a battle zone.

That was 2004, two years ago. At that time, the number of armored Humvees being produced had gone from only 15 to 450. That question sunk deep into the American conscience. Why indeed were we spending billions of dollars to fund a war in which our troops were not being fitted with the best technology available? Why were so many men and women saying good bye to their families for the last time, when so many deaths could have been prevented by better preparation? It is now 2006. What has changed?

In a press release July 24, 2006 Force Protection, Inc. (OTCBB:FRPT), announced it has closed on 8.25 million shares of common stock. This generated the company proceeds of over 41 million dollars. Force Protection manufactures the Buffalo and Cougar armored vehicles, which are now being deployed with soldiers in Iraq and Afghanistan. Force Protection CEO, Gordon Milton stated that he was pleased with the financing, noting that this will allow FRPT to meet the expected demand for the vehicles.

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