Oshkosh Surges As US Army Awards $6.7 Bln Joint Light Tactical Vehicle Contract

(RTTNews) - Specialty vehicles maker Oshkosh Corp (OSK) on Tuesday said the U.S. Army Tank-automotive and Armaments Command ("TACOM") Life Cycle Management Command has awarded its subsidiary, Oshkosh Defense LLC, a $6.7 billion firm fixed price production contract to manufacture the Joint Light Tactical Vehicle.

During the contract, which includes both low rate initial production and full rate production, Oshkosh expects to deliver about 17,000 vehicles and sustainment services.

The Joint Light Tactical Vehicle ("JLTV") production contract awarded to Oshkosh includes a base contract award and eight option years covering three years of low rate inital production and five years of full rate production. Oshkosh will begin delivering vehicles about ten months after contract award.

The JLTV program fills a critical capability gap for the U.S. Army and Marine Corps by replacing a large portion of the legacy HMMWV fleet with a light tactical vehicle with far superior protection and off-road mobility.