RESTON, Va. and OSHKOSH, Wis. — Feb. 20, 2008 — Northrop Grumman Corporation (NYSE: NOC) and Oshkosh Corporation (NYSE: OSK) have selected Plasan, a leading developer and manufacturer of add-on armor systems for the military and commercial market, to assist with the design and engineering of the armor for the Joint Light Tactical Vehicle (JLTV) program.
The U.S. Department of Defense plans to acquire the JLTV for use by the U.S. Army and U.S. Marine Corps.
Northrop Grumman and Oshkosh Corporation announced the companies had teamed to compete for the JLTV program on January 8. If selected, Northrop Grumman’s Mission Systems sector will be the prime contractor and systems integrator. Oshkosh Truck’s Defense Group will be responsible for designing, engineering and manufacturing the vehicle, including the armor system.
“Plasan specializes in the design of armor protection systems,” said Dani Ziv, chief executive officer of Plasan. “We are pleased to be designing an armor solution exclusively with Oshkosh Corporation for the JLTV program.”
“Oshkosh Corporation Defense Group has demonstrated that it has the technology and expertise to design and build some of the world’s toughest military trucks,” said John Stoddart, executive vice president, Oshkosh Corporation and president, Defense Group. “By teaming with Plasan, we will be able to deliver a JLTV concept that meets the survivability and mobility needs of soldiers and Marines.”
The JLTV program requires integrated armor protection and the ability to incorporate add-on armor kits. Plasan has a strong record of providing superior armor protection kits for tracked and wheeled vehicles. Plasan’s armor is used in the majority of Mine Resistance Ambush Protected (MRAP) vehicles.
Oshkosh and Plasan have previously partnered to develop a successful solution for the Medium Tactical Vehicle Replacement (MTVR) program; more than 2,000 armored vehicles are in theater. This design also was chosen as the Marine Corps Logistics Vehicle System Replacement (LVSR) A-Kit and B-Kit solution.
About Northrop Grumman Corporation
Northrop Grumman Corporation is a $32 billion global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment and commercial, fire & 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 about Oshkosh Corporation, log onto the company Web site at 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 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.
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