Navistar Gets Largest Armored Truck Order Of 2011 From Marines

Date : 06/13/2011 @ 10:48AM
Source : Dow Jones News
Stock : Oshkosh Corp. (Holding Company)Common Stock (OSK)
Quote : 68.98  0.73 (1.07%) @ 10:10AM

Navistar Gets Largest Armored Truck Order Of 2011 From Marines

Navistar (NYSE:NAV)
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Navistar International Corp. (NAV) said it has received an order from the U.S. Marines Corps Systems Command for 471 armored patrol truck worth $357 million.

It's the largest order of mine resistant ambush protected trucks, or MRAPs, this year and follows an order for 250 ambulance versions of the MRAP last month. Illinois-based Navistar has produced more than 8,700 of the heavily armored trucks for troops in Iraq and Afghanistan since 2007, but demand for the trucks has fallen in recent years as the U.S. military opted for a smaller armored truck developed by Oshkosh Corp. (OSK) for Afghanistan's rugged terrain.

Navistar upgraded the MRAP's suspension system and reduced its size for better off-road performance. The latest order for 471 trucks will be assembled at Navistar plants in Garland, Texas, and West Point, Miss. The work is expected to be completed by September.

Navistar last week peeled back its 2011 revenue projection from military vehicles to $1.9 billion, from $2 billion.

Navistar's stock was recently trading down 0.11% at $54.47.

-By Bob Tita, Dow Jones Newswires; 312-750-4129; robert.tita@dowjones.com

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