OSHKOSH, Wis. (February 12, 2004) – Oshkosh Truck Corporation (NYSE:OSK), a leading manufacturer of trucks and truck bodies, announced today that the company has received approval from the U.S. Marine Corps for full-rate production of Medium Tactical Vehicle Replacement (MTVR) wrecker and dump truck models. This approval was accompanied by a contract modification, funded at $185.9 million, for 700 trucks. These vehicles are scheduled to begin delivery in May 2004. Approximately $24 million of the shipments under the contract involved planned deliveries in the second half of fiscal 2004 that were not included in the company’s sales and earnings estimates for fiscal 2004 reported on January 22, 2004.
“The MTVR has redefined the performance possibilities for all military trucks. It has proven its outstanding off-road mobility and reliability on the battlefield, in Afghanistan and Iraq. Now, we’re very pleased to be manufacturing these two new, high-performance models to support the Marines’ critical mission,” said Robert G. Bohn, Oshkosh’s chairman, president and chief executive officer.
The contract modification includes 274 MTVR wreckers and 426 MTVR dump trucks. The MTVR wrecker is an ultra-performance recovery vehicle used for vehicle towing, battlefield maintenance, recovery and crane operations. It has the best off-road towing capability of any truck in the U.S. Marine Corps’ fleet and will be used to tow five-ton-payload trucks, Humvees and Interim Fast Attack Vehicles to maintenance facilities. This state-of-the-art tow truck is the first defense truck to be equipped with the company’s Command Zone(TM) electronics system, designed to simplify operation and maintenance. The model’s 80,000-pound capacity makes it capable of towing a fully loaded semi truck and trailer rig. The MTVR dump trucks can carry a payload of 14 tons on-road and 6.1 tons off-road.
Oshkosh Truck Corporation (NYSE:OSK) is a leading manufacturer of specialty trucks and truck bodies for the defense, fire and emergency, concrete placement and refuse hauling markets. Oshkosh Truck is a Fortune 1000 company with products marketed under the Oshkosh(R), Pierce(R), McNeilus(R), Medtec(R), Geesink and Norba brand names. The company is headquartered in Oshkosh, Wis., and had annual sales of $1.9 billion in fiscal 2003.
To learn more about Oshkosh Truck Corporation, visit its web site at www.oshkoshtruckcorporation.com
Forward-Looking Statements
This press release contains statements that the company believes are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding the company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital spending and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as the company “expects,” “intends,” “estimates,” “anticipates,” or “believes” and similar expressions 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, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, without limitation, risks related to reductions in government expenditures, the uncertainty of government contracts and the possibility that expected cost savings will not be achieved nor future plans realized. Additional information concerning these and other factors is contained in the company’s filings with the Securities and Exchange Commission.
CONTACT:
Oshkosh Truck Corporation
Charlie Szews (Financial), 920-233-9332
Kirsten Skyba (Media), 920-233-9621
