Oshkosh Truck Corporation (OSK)

[Investorman]

NEW YORK (MarketWatch) -- The U.S. Army said Wednesday it has cancelled the original contract solicitation for its combat-vehicle modernization program, delaying the replacement of thousands of vehicles by at least six months. "The Army determined that it must revise the acquisition strategy to rely on mature technologies in order to reduce significant developmental risk over a seven-year schedule following the initial contract award," the military said in a statement. Details of the next proposal request from the Army for contractors are still being finalized. The Army had expected to field the first of the new vehicles by 2017. The program was originally a part of the $160 billion Future Combat Systems, which was canceled in 2009 because of cost overruns.