TROY, Mich. (AP) -- Automotive parts maker ArvinMeritor Inc. said Thursday it will supply drivetrains for defense contractors Lockheed Martin Corp. and BAE Systems under a military vehicle program.
The contract falls under the U.S. military's "joint light tactical vehicle" program, which is aimed at replacing the military's aging fleet of light tactical vehicles. The program is valued at $20 billion, the company said.
Shares of ArvinMeritor rose 7 cents, or 11.8 percent, to 66 cents in morning trading.
