Navistar Gets Largest Armored Truck Order Of 2011 From Marines
June 13 2011 - 10:48AM
Dow Jones News
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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