The orders are part of the May 2008 contract, signed by Navistar with TACOM. To date, the manufacturer delivered 7,577 units, ranging from troop transporters, petroleum, oil and lubricant trucks to water tankers.
“Foreign military sales of MTVs provide the foundation for Navistar’s $2 billion business annually,”Archie Massicotte, Navistar Defense resident said in a release.
Additionally, Navistar received a $78 million contract as a means to fund research on the manufacturer's International MaxxPro Mine Resistant Ambush Protected (MRAP).
The MaxxPro MRAP will aim to improve vehicle reliability, as well as add new kits and hardware. Even if no details on the MRAPs have been released, due to obvious reasons, Navistar says some 143,000 annual labor hours will be put into the project over the next 12 months.
“Now, Navistar has marked another milestone with its first STS contract. This award is an example of how we are constantly working to enhance and expand our offerings to position Navistar well for 2010 and beyond.”
Navistar has become one of the favorite US funds receiver this year. The most recent, received through an US Government grant, is worth $39 million and will be shared with British electric vehicle drivetrains producer Zytek and British electric commercial vehicle specialist Modec.
Navistar Defense's mother company just managed to settle a Securities and Exchange Commission (SEC) investigation, regarding the company's restatement of its 2002-2005 financial results.
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