Oshkosh Wins $6.7 Billion Military Contract To build 55,000 Light Trucks

OshKosh

Oshkosh Corp. has replaced Humvee in the light trucks department for the U.S. Army and Marine Corps. The Pentagon announced on Tuesday that it was awarded a $6.7 billion contract to the company, allowing it to produce 55,000 light trucks for the U.S. military.

Oshkosh beat out Lockheed Martin Corp. and AM General LLC to build thousands of Joint Light Tactical Vehicles.

The three companies emerged from a pack that included Navistar International Corp., General Dynamics Corp. and Ford Motor Co. for what has been billed by analysts as the Army’s most important acquisition program in years.

Oshkosh watched its defense sales slide 60% in the latest quarter from a year ago as the Pentagon slowed buys of heavier military vehicles. Rumors quickly began to swirl that Oshkosh might split off its various businesses to make up for the losses, a rumor the company denied.

 

SEE ALSO:
Top 10 Ways Not Using Cash Affects the Economy and Society

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.