Oshkosh Defense Awarded $19 Million for In-Theater M-ATV Support
OSHKOSH, Wis. — April 27, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has received two awards for more than $19 million from the U.S. Army TACOM Life Cycle Management Command (LCMC) to provide in-theater support for MRAP All-Terrain Vehicles (M-ATV) in Afghanistan. These awards add an additional 60 Oshkosh field service representatives (FSR) that will provide support in Afghanistan through May 2011.
Oshkosh FSRs support the M-ATV and other vehicles in-theater, providing training and the complete spectrum of service and support. FSRs can perform at any forward operating base (FOB) that would support the M-ATV or where technical support and training assets for these new vehicles are required.
“At Oshkosh, our work isn’t finished when our trucks leave the factory,” said Kenneth G. Juergens, Oshkosh Corporation vice president and general manager, Joint Programs, Defense. “Our M-ATVs provide exceptional survivability and off-road mobility. We work directly with the Armed Forces to help maintain these urgently needed vehicles in-theater. Oshkosh FSRs are a link between troops in the field and engineers in our factory, and have worked with the military to achieve a 97 percent readiness rate for the M-ATV fleet in Afghanistan.”
Oshkosh also has FSRs working in the United Kingdom, Egypt and Germany. In addition, FSRs deployed in Afghanistan, Kuwait and Iraq provide support and enhance military mobility. Sustainment support from Oshkosh provides training, equipment operation, configuration control, maintenance, diagnostics, corrective procedures, parts kitting and data analysis. These services help enhance reliability, improve readiness and reduce repair cycle time for the U.S. forces’ fleets.
The Oshkosh M-ATV features the survivability and off-road mobility capabilities needed to operate in places like Afghanistan. To date, Oshkosh has received awards valued at more than $4.75 billion for 8,079 M-ATVs, as well as spare-parts kits, upgrade kits and aftermarket support.
About Oshkosh Defense
Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit www.oshkoshdefense.com.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshcorporation.com.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to sustaining the required rate of production for the M-ATV contract and the amount, if any, of additional orders for M-ATVs that the Company may receive; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and tight credit markets; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof, risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine contracts and the uncertainty of government contracts generally; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
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