JACKSONVILLE, Fla. --- Armor Holdings, Inc., a leading manufacturer and distributor of security products and vehicle armor systems, announced today that it has received a contract award from Oshkosh Truck Company for approximately $115 million to support the U.S. Marine Corps Medium Tactical Truck Vehicle Replacement program (MTVR).
Oshkosh Truck Company has contracted with Armor Holdings’ Aerospace and Defense Group to provide armor component systems integration, program management, and systems engineering support. Armor Holdings in turn will subcontract to its Israeli based partner, Plasan Sasa, for production of 796 MTVR armor kits to be delivered to the USMC, primarily in 2005. The Company estimates that 2004 revenue resulting from the MTVR program will be minimal and thus does not anticipate adjusting 2004 guidance as a result of this award.
The Company noted that this contract is representative of a developing trend within its business toward armoring an ever-broadening range of vehicle platforms. Armor Holdings now produces armoring solutions for a total of seven different vehicle platforms, including light, medium, and heavy tactical trucks.
Robert Schiller, President and Chief Operating Officer of Armor Holdings, Inc., said, “We are pleased to work closely with Oshkosh Truck and to support another important force protection program for the Marines. This particular opportunity also builds on our strong relationship with Israeli-based Plasan Sasa. We believe that this program highlights the growing acceptance of the new realities of major conflict.
“We believe that increasingly, every soldier, regardless of their occupational specialty or zone of deployment, can come under fire, and has a real and pressing need for defensive equipment. We are pleased to provide expertise in ballistics and blast protection as well as broad experience on a number of platforms, making us a supplier of choice for the Department of Defense and the industry’s vehicle producers.”
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Armor Holdings Announces $115 Million Vehicle Armor Component Integration Contract for 2005
