The order is for an additional 1,000 trucks and is worth $438 million, the company said Wednesday. Including the newest award, Oshkosh has now pulled $3.2 billion in deals with the U.S. military for a total of 6,219 vehicles.
Oshkosh, which first won the Pentagon contract in June, has benefited from the heightening of the war in Afghanistan. Last month, it reported a strong third quarter on the back of its defense business, which has helped buoy the company following a collapse in demand for its construction-equipment segments amid the recession.
Known as MRAPs (short for Mine Resistant Ambush Protected), the trucks were specifically designed to withstand the kinds of homemade bombs, or improvised explosive devices, used by insurgents in Iraq and Afghanistan. To deal with the latter's mountainous terrain, the Oshkosh version of the MRAP is lighter and has a more heavy-duty suspension system than the MRAPs used in Iraq.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV