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Force Protection, a builder of bomb resistant vehicles slated
to begin operation of a manufacturing facility in Person County,
recently received good news.
Last month, despite a wave of negative publicity, Force Protection
officials insisted that the company has no plans of shutting
down its Person County facility at the intersection of Boston
Road and Halifax Road. The building formerly housed Collins
& Aikman.
On April 10, Force Protection announced that the Defense
Security Cooperation Agency (DSCA) had notified Congress of
a pending foreign military sale to the United Kingdom for
157 of the companys Cougar Category I Mine Resistant
Ambush Protected vehicles (MRAPs), along with associated equipment
and services.
The total value of the contract, if all options are exercised,
will be approximately $125 million, according to a Force Protection
news release.
We are pleased to note the continued interest of the
British armed forces in our proven blast protection technology,
Damon Walsh, Force Protection executive vice president for
customer relations said. We will continue to work closely
with the U.S. Marine Corps to put the necessary agreements
in place that will facilitate a speedy contract award.
When contacted Friday in Ladson, S.C., where Force Protection
is headquartered, Erin Kane, who works in the communications
office with the company, said company officials had set no
date for production of MRAPs in Person County, however, she
added, It is still our plant and nothing has changed.
Last month, Person County Economic Development Director Glen
Newsome said, The company has affirmed on several occasions
that they plan to continue the project here. It flies in the
face of common sense and good logic to suggest otherwise.
Reached Friday by The Courier-Times, Newsome said, I
think it is fair to say that Roxboro and Person County is
still very much in the mix of things.
When Force Protection first announced plans to locate in
Person County, company officials guaranteed 270 well-paying
jobs. As of last month, however, the number of employees hovered
around 20, however, Pruitt said at the time that the 270 jobs
were still within the realm of possibility.
Last summer, Force Protection struck a deal with the state
for grants totaling approximately $3 million if it met job-creation
goals of approximately 65 each year from 2007 through 2010.
Force Protection released information last month that it
was notified on March 19 by The NASDAQ Stock Market that the
company was not in compliance with a Marketplace Rule as a
result of failing to file with the United States Security
and Exchange Commission its Annual Report on Form 10-K for
the fiscal year ending Dec. 31, 2007. Because of that, Force
Protection is subject to having its stock delisted from the
NASDAQ Capital Market.
Force Protection has since requested and been granted an
oral hearing before the NASDAQ Listing Qualifications Panel
to review the NASDAQ staff determination on its continued
listing, which will result in NASDAQ providing Force Protection
with notice of a hearing at which the panel will consider
whether such delisting is appropriate.
Elliott Davis, LLC, the Force Protections independent
public accounting firm, informed company officials last month
that it was immediately resigning its duties.
On Monday, Force Protection announced that Grant Thornton
LLP had been obtained as the companys new independent
registered public accounting firm.
We are very pleased to have retained a nationally recognized
and highly capable auditor, Michael Moody, chairman
and CEO of Force Protection said. As the company takes
steps to improve our financial reporting and controls, we
look forward to developing a solid working relationship with
Grant Thornton.
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