50,000 dollar donation to the National Guard Youth Foundation supports program for at-risk youth
OSHKOSH, Wis. (Aug. 26, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will feature several advanced military-class vehicles and technologies at the 133rd NGAUS Conference & Exhibition, Aug. 27-29 in Milwaukee, Wis. Among the vehicles on display will be a light, armored concept vehicle, the Light Combat Tactical Vehicle (LCTV), designed to give troops new levels of protection and off-road mobility on harsh terrain.
“The vehicles we provide to the National Guard in all 50 states play an important role supporting the Guard on the battlefield during deployment, and also in disaster recovery and homeland security missions in the U.S. and abroad,” said Mike Ivy, vice president and general manager of Army Programs for Oshkosh Defense. “Oshkosh is the primary provider of the National Guard’s heavy and medium-payload vehicles, and we are focusing our expertise to deliver a new generation of lighter vehicles that offer more protection, functionality and fuel economy.”
Examples of Oshkosh’s technical advancements are incorporated into its LCTV – the world’s first military class vehicle to successfully complete the SCORE Baja 1000 off-road race in Mexico last year. The LCTV is equipped with a next-generation TAK-4® independent suspension system, which provides 20 inches of independent wheel travel, as well as the Oshkosh ProPulse® hybrid diesel-electric powertrain, which delivers up to 120 kW of military-grade exportable power capabilities and up to 20 percent greater fuel economy.
Oshkosh Supports the National Guard Youth Foundation
At the conference, Oshkosh Defense will be commemorating its support and $50,000 donation to the National Guard Youth Foundation to support its Youth ChalleNGe program in 2011. The program gives high school dropouts a second chance, with a 22-week residential phase and a 12-month mentoring phase at 33 ChalleNGe sites across the country.
Also on display at the show will be an Oshkosh Heavy Equipment Transporter (HET) A1, MRAP All-Terrain Vehicle (M-ATV), and cargo variants of the Family of Medium Tactical Vehicles (FMTV), High Mobility Multipurpose Wheeled Vehicle (HMMWV) recap concept vehicle, and Heavy Expanded Mobility Tactical Truck (HEMTT) A4. Oshkosh produces the HET for the National Guard to rapidly transport battle tanks, fighting and recovery vehicles, armored vehicles and construction equipment, as well as their crews, so they arrive in mission-ready condition. Oshkosh has delivered more than 8,000 heavily protected, highly mobile M-ATVs to the U.S. Armed Services for operations in Afghanistan. The vehicle uses the TAK-4 suspension for extensive off-road operation and to provide flexibility to allow the vehicle to accept add-on armor and protection kits without sacrificing payload or mobility. The FMTV and HEMTT A4 cargo variants transport equipment, munitions and cargo for critical logistics missions.
Oshkosh executives will be on hand to discuss the vehicles and technologies at booth #139.
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 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 Corporation 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, visit www.oshkoshcorporation.com.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward-Looking Statements
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 the expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness, tight credit markets and lower municipal spending; the Company’s ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Company’s intangible assets and/or a slower recovery in the Company’s cyclical businesses than equity market expectations; the impact on revenues and margins of the decrease in M-ATV production rates; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; risks related to work stoppages and other labor matters, especially in light of the pending contract expiration for union employees at the Company’s Oshkosh defense facilities; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to pass on to customers price increases to offset higher input costs; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks related to production delays arising from supplier quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the potential for disruptions or cost overruns in the Company’s global enterprise resource planning system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Company’s distribution networks; and the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. 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.
