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Thermo Fisher Scientific, Inc. Message Board

  • biostat136 biostat136 Nov 13, 2007 2:57 PM Flag

    OT: Fidelity Inv. Triples Stake in Force Prot (FRPT)

    OT: Fidelity Inv. Triples Stake in Force Prot (FRPT)
    2007-11-13 11:01 (New York)


    By Edmond Lococo
    Nov. 13 (Bloomberg) -- Fidelity Investments tripled its
    stake in Force Protection Inc., the largest supplier of blast-
    resistant trucks to the U.S. Marine Corps.
    Fidelity holds 7.89 million shares, or about a 12 percent
    stake, as of Oct. 31, Boston-based Fidelity said in a regulatory
    filing today. That makes Fidelity the company's largest
    shareholder, according to Bloomberg data.
    The U.S. Defense Department is rushing-blast resistant
    trucks to Iraq to protect troops from roadside bombs. The
    Pentagon has already bought 8,815 trucks. Ladson, South
    Carolina-based Force Protection has shipped 1,389 trucks as of
    Nov. 1, more than any other supplier.
    The stake represents an increase from 2.62 million shares,
    or about 3.9 percent, of Force Protection that Fidelity had held
    at the end of June, according to Bloomberg data. Sophie Launay,
    a spokeswoman for Fidelity, declined to comment on the purchase.
    Force Protection shares gained 39 cents, or 2.3 percent, to
    $17.26 at 11 a.m. in Nasdaq Stock Market composite trading. They
    had fallen 3.1 percent so far this year before today.

 
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