CHARLESTON, S.C., Oct. 29, 2003 (PRIMEZONE) -- Technical Solutions Group (TSG), a subsidiary of Force Protection, Inc. (OTCBB:FRCP) has leased a larger manufacturing facility in Ladson, South Carolina. The new facility encompasses 86,000 square feet of space that is optimal for the Company's vehicle manufacturing and the increasing opportunities available in the market. TSG plans to transfer manufacturing of the "Buffalo," "Cougar," and "Tempest" Mine Protected Vehicles, as well as its other specialty vehicles, to the new site by the end of the November. The new facility is located at 9801 Highway 78, Building 3, Ladson, South Carolina, 29456.
The facility is part of the 250 acre Aerospace Defense compound that was formerly the site of GE's gas turbine manufacturing (NYSE:GE) and, more recently by a manufacturer of large ore trucks. The building includes four 30-ton cranes with 70-foot spans and 480 feet of travel, multiple jib cranes, and is fully serviced by built-in air and electric systems. Also included is a fully certified shot blasting facility and two paint facilities designed to handle both components and fully assembled vehicles. The office space will house all of TSG's administrative personnel, design personnel, and data processing and CAD systems. Wiring for telecom, data networks, and multiple T1 lines have been installed.
TSG President Garth Barrett said, "This excellent, purpose-designed facility provides us with the capability to conduct serious volume production and continues a deliberate process of establishing TSG as a serious manufacturer capable of meeting volume production orders."
Force Protection CEO Michael Watts said, "This facility increases our production capacity many times over. We will be able to produce several hundred vehicles per year from this building very comfortably and there is additional adjacent space available to easily and quickly accommodate even higher production rates."
About Force Protection, Inc.
Force Protection, Inc. manufactures and distributes vehicles that protect and save lives and property. Its subsidiary, Technical Solutions Group, Inc., (TSG) manufactures and markets military vehicles that are protected against landmines and hostile fire. These vehicles are typically used to transport personnel safely in areas infested with landmines and for the actual removal of landmines. The vehicles are manufactured in Charleston, SC, where TSG is based. For more information visit www.forceprotection.net. Recently, Technical Solutions Group was highlighted on CNBC's Business Center. A video clip of the segment is available at: http://ir.forceprotectioninc.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.