General Dynamics Land Systems (GDLS) expands the range of its own tactical armored vehicles with the acquisition of Force Protection Inc (FPI). Despite the fact that General Dynamics (GDLS) is a leading South American manufacturer of combat ton, it failed to gain a foothold in the market mc resistant to improvised explosive devices (IED) and mines (Mine Resistant Ambush Protected-MRAP), giving way to this growing sector of the Russian market and international competitors, such as the FPI, Oshkosh, Navistar, Thales and BAE Systems. Of all these companies, FPI offers the best synergy at competitive prices.
General Dynamics (stock exchange symbol: GD) plans to pour Force Protection, Inc (stock exchange symbol: FRPT) to his unit Land Systems. General Dynamics will pay $ 5.52 per share, or approximately 360 million dollars in general. The proposed acquisition was approved by the Board of Directors of both companies.
"After painstaking consideration of the strategic directions of development of Force Protection, our board of directors decided that the sale of our company's General Dynamics will be able to maximize the investment of our shareholders, "- said Michael Moody (Michael Moody), Chairman of the Board of Directors and Chief Executive Officer of Force Protection Inc. -" General Dynamics to their business armored vehicles will be able to implement the skills that could be beyond the power of us as an independent company . "
FPI has shown impressive growth in the international markets with such recognized products like the Cougar, Buffalo and New Ocelot, British Ministry of Defense elected as a finalist in the Australian rearmament program there (Australian Land 121 program). Company has also been selected in the middle of several finalists for Canadian tactical armored patrol mc (Tactical Armoured Patrol Vehicle TAPV).
"Force Protection complements and strategically expands business armored vehicles General Dynamics, adding new products to the expansive range produced in the current time of combat vehicles, "- said Mark C. Roulet (Mark C. Roualet), president of General Dynamics Land Systems.
FPI is in Ladson, South Carolina, and has 1,100 employees. General Dynamics based in Stirling Heights, Mich., has 8,400 employees.