Oshkosh Corp. (OSK) won contracts worth $690.5 million to supply the U.S. Army with tactical trucks and trailers, according to the Defense Department on Friday.
The larger award, made Tuesday, is worth $584.9 million, selling the Army 1,274 new heavy expanded mobility tactical trucks--large vehicles designed for heavy transport--and 452 refurbished ones. It also includes the sale of 98 palletized loading system trailers. Delivery is set to be complete in September 2012.
The second contract, worth $105.6 million, is for Oshkosh to build about 1,308 tactical vehicles, trucks and trailers. Those are supposed to finished in March 2012.
Deliveries of military-transportation vehicles for the Afghanistan war helped Oshkosh swing to a second-quarter profit in results released in April. The specialty-vehicle maker cut costs by implementing wide layoffs, output reductions and plant closures during the downturn in global construction markets. But its burgeoning defense segment has been a bright spot.
Oshkosh shares were up 2.1% at $30.63 after hours. The stock has risen 51% in the last year, better than the broader market.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; email@example.com