OSHKOSH, Wis. — March 5, 2007 — Oshkosh Truck Corporation (NYSE:OSK) announced today that it has been selected by the U.S. Army for Theater Provided Equipment Refurbishment (TPER) of M915 Line Haul tractors under a four-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract. The initial delivery is for a quantity of 137 units to be completed within the first 10 months of award and is valued at $13.8 million. The contract can be extended to cover additional Line Haul units located throughout the Southwest Asia theater of operations. Work will be performed in Oshkosh’s facility in Jahra, Kuwait, alongside the refurbishment of the Family of Heavy Tactical Vehicles (FHTV) manufactured by Oshkosh Truck.
The initial TPER Line Haul order covers multiple variants of the M915 Line Haul tractor, which was not originally produced by Oshkosh Truck. This is an urgent requirement to repair incoming tactical equipment that has become highly worn due to its continued operation under combat conditions. Following refurbishment, the vehicles will be returned to full mission capability and delivered to the Army to continue operations in the theater.
“The TPER Line Haul award is a natural extension of the FHTV refurbishment effort that has just recently been awarded to Oshkosh Truck. The Army’s intent to consolidate the efforts under Oshkosh Truck is a testament to our ability to respond and perform when the military customer has the greatest need,” said John Stoddart, executive vice president of Oshkosh Truck, and president defense. “Since the beginning of the War on Terror, Oshkosh Truck has quickly responded in theater with repair facilities, add-on-armor facilities, field service personnel, and global delivery of high-quality service and supply parts. Aligning the Line Haul and FHTV TPER contracts will enable the U.S. Army to take advantage of the in-theater experience and proven performance of Oshkosh Truck by quickly and efficiently returning valuable logistics equipment to full mission capability.”
The scope of work carried out by Oshkosh will include both scheduled and unscheduled maintenance as part of the ongoing contract. Since the start of Operation Iraqi Freedom, Oshkosh has had repair and armoring capabilities in the Southwest Asia theater of operations and currently has personnel deployed throughout the Middle East.
On February 20, 2007, Oshkosh announced that it had been selected by the U.S. Army for TPER of FHTV units under a four-year IDIQ contract valued at $22 million for 319 units. Like the TPER Line Haul contract being announced today, the TPER FHTV contract can be extended to cover additional FHTV units located in Southwest Asia.
About Oshkosh Truck Corporation
Oshkosh Truck Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire and emergency and military vehicles and vehicle bodies. Oshkosh’s products are valued worldwide by rental companies, fire and emergency units, defense forces, municipal and airport support services, and concrete placement and refuse businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshtruck.com.
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 markets, the company’s ability to successfully integrate the JLG acquisition, the consequences of financial leverage associated with the JLG acquisition, 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.
# # #
