Navistar Wins $467 Mln. Army Truck Order; Reaffirms Forecast

March 8, 2005 9:57 AM, EST

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avistar International Corp. said Tuesday it won a contract from the U.S. Army with a potential value of $467 million to provide trucks to the Afghanistan Army.

Chief Executive Officer Daniel Ustian said revenue and income from the first phase of the contract will have a minimal impact this year, and the company reaffirmed its 2005 forecast for revenue of $11 billion to $11.3 billion and earnings of $4.60 to $5.00 per share.

The contract calls for Navistar unit International Truck and Engine Corp. to supply up to a total of 2,781 vehicles, including 2,400 general transport trucks and 381 specialty vehicles, such as dump, water, recovery and hazardous material trucks.

In addition, International will supply all required spare parts necessary to support two years of scheduled maintenance, the company said in a statement.

The first order totals $61.8 million for 374 vehicles as part of a $311.5 million firm fixed price contract, Navistar said.

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