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FINANCIAL NEWS
UAE in USD380m contract for 750 US army trucks
19 Feb 2013
(MENAFN) US Oshkosh Corporation executive VP, John M Irias, stated that the company has been awarded a USD380 million UAE contract to supply the Gulf country’s military with 750 armored vehicles, reported Arabian Business.
Irias, who is also the president of Oshkosh Defence, noted that the mine-resistant M-ATV truck, which has a list price of nearly USD480,000 per vehicle, is also used by the US and Polish militaries, and was deployed in US-led conflicts in Iraq and Afghanistan.
According to Irias, within the coming 5 years, the Wisconsin-based defense contractor is set to open a manufacturing plant in the Middle East to service the region’s customers as demand for the company’s products is growing, mainly from GCC states.
It is worth noting that Oshkosh revenues in its latest financial year reached USD9.8 billion.
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