Oshkosh (OSK) Wins Contract with Defense Logistics Agency to Provide Replacement Parts for Tactical Vehicles; Stock Up 6% on the News
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Oshkosh Corporation (NYSE: OSK) announced today that Oshkosh Defense has been awarded a sole source contract with the Defense Logistics Agency to provide replacement parts for medium and heavy tactical vehicles. This annual contract has a potential duration of 10 years, if all option years are exercised, and a value of up to $1.12 billion. This follows a one-year contract that included seven option years, each of which were exercised, that ended in December 2008.
Under the contract, Oshkosh Defense will supply the DLA with replacement parts to support Oshkosh's medium and heavy tactical vehicles, which include the Medium Tactical Vehicle Replacement, Heavy Expanded Mobility Tactical Truck and Palletized Load System. Oshkosh also supplies replacement parts for other manufacturers' medium and heavy-payload vehicles.
The first contract order is valued at $17.5 million and is for approximately 2,300 replacement part numbers to support Oshkosh's tactical vehicles.
Shares of Oshkosh are currently trading about 5.8% higher on the news.
Oshkosh Corporation designs, manufactures, and markets a range of specialty vehicles and vehicle bodies worldwide.
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