OSHKOSH, Wis. — March 20, 2008 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a contract from the U.S. Army to begin engineering and initial production of the next-generation of Heavy Equipment Transporters (HET).
Oshkosh Corporation currently supplies the Army with the M1070 HET. The HET, along with the M1000 trailer, is designed to increase mobility and decrease wear on the Army’s M1 Abrams tank by hauling it over long distances. The Army developed a requirement to improve upon the performance of the tank’s transporter. The HET A1 upgrade program will expand upon the vehicle capabilities of the existing M1070 HET and is valued at more than $11 million.
Earlier this month Oshkosh Corporation submitted a HET A1 Phase I proposal to the Tank-automotive and Armaments Command (TACOM). After conducting a number of analyses of alternatives, the government has requested that Oshkosh proceed with the proposed improvements through this single-source contract.
The HET A1 program includes improvements to the power train including the engine, transmission, transfer case and electrical systems. The next-generation HET also will incorporate improved axles and wheels, a new hood and cab improvements consisting of improved seats, dash panel, electrical, air conditioning and additional support for future armor upgrades.
These upgrades will be delivered on six pilot vehicles for testing. Phase II will involve production verification testing of the HET A1.
Oshkosh Corporation also supplies the U.K. 1070F HET to the Ministry of Defence. Coupled with a King GTS100 heavy equipment trailer, the U.K. HET is designed to haul the Challenger II battle tank or armored vehicles and self-propelled guns. Manufacturing of the Oshkosh® HET began in 1992.
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 Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, BAI®, Oshkosh Specialty Vehicles, Frontline®, SMIT®, Geesink®, Norba®, Kiggen®, 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.
Oshkosh Corporation Forward-Looking Statements
This press release contains statements that the company believes are “forward-looking statements” within the meaning of the 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 “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 the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets especially during periods like February 2008 when news reports speculate on the possibility of a U.S. recession; risks related to reductions in government expenditures, the uncertainty of government contracts and the company’s ability to turnaround its Geesink Norba Group business. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission.
