The Department of Defense announced 24 new defense contracts Monday, with a combined value of $1.66 billion. One of the larger contracts awarded went to Wisconsin-based Oshkosh (NYSE:OSK).

As described in the DoD contract announcement, Oshkosh will have its 2009 contract to produce "family of medium tactical vehicles" (basically, military tractor trailers) for the military modified so as to increase the value by $104.9 million. These additional funds will pay for an additional 545 medium tactical vehicles and 79 trailers to be produced for the U.S. Army.

To date, Oshkosh has delivered well in excess of $4.7 billion worth of FMTV vehicles to the U.S. Military, a value nearly twice the original estimate back when it originally won the contract in 2009.

Oshkosh FMTV truck. It's not pretty, but it sure is profitable. Source: Oshkosh

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