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Oshkosh Gets $176M Modification on Army JLTV Production Contract

Oshkosh (NYSE: OSK) has received a one-year, $176.1 million contract modification to build 409 Joint Light Tactical Vehicles for the U.S. Army.

The Defense Department said Thursday Oshkosh’s defense business segment will perform work in Oshkosh, Wisconsin through Dec. 31, 2017.

The Army Contracting Command obligated the full amount of the modification at the time of award from the military branch’s fiscal 2016 and 2017 “other” procurement; research, development, test and evaluation and other funds.

Oshkosh beat out Lockheed Martin (NYSE: LMT) and AM General to win the potential $6.7 billion contract in August 2015 to replace the current Humvees of the Army and the U.S. Marine Corps.

In February, Lockheed dropped a lawsuit that challenged the Army’s selection of Oshkosh for the JLTV program after the Government Accountability Office rejected Lockheed’s bid protest filed late last year and the U.S. Federal Claims Court subsequently denied the company’s injunction request.

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