Heavy truck maker Navistar International Corp. said Thursday it received two U.S. Army contracts worth nearly $92 million combined.
The contracts are extensions of earlier awards for medium tactical vehicles and other variations of Navistar's International 7000 Series trucks, the company said.
The contracts call for Navistar to provide 400 cargo trucks worth nearly $70 million and 120 tractor trailers worth about $22 million.
The vehicles will be delivered to the Army for use in Iraq and Afghanistan. The first delivery of about 150 cargo trucks is expected to take place in early 2009. Navistar said.
Navistar said it also will supply the spare parts needed for several years of maintenance on the vehicles.
Separately, Navistar reported strong fiscal third-quarter results and raised its full-year outlook.
Navistar shares rose $5.83, or 10.8 percent, to $59.88 in morning trading. The stock has ranged from $43.75 to $79.05 over the past year.
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