In this week’s news section, we looked at the struggling market for Force Protection, local manufacturer of mine-resistant vehicle commonly referred to as MRAPs. Today comes news that the company has likely snagged a $125 million contract from the British forces for 157 Cougars.
Force Protection spokesman Tommy Pruitt said the notification of Congress is a good sign that the company may receive the contract, but said it’s still going through the process of approval and there is no timetable for the contract to be awarded.
We noted in our story that the foreign market was filling the gap for lost U.S. contracts.
Of course, it wouldn’t be a call to investors without a positive look to the future. Though the U.S. military isn’t interested in the Cougar, the brass are helping the company procure contracts internationally, including smaller orders (less than 200) from the United Kingdom and Italy that have helped fill out the company’s order book through 2008 — though it has no orders for next year.