Future of Military Vehicle Capabilities from Oshkosh Defense on Display at Modern Day Marine
OSHKOSH, Wis. (Sept. 26, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will showcase a range of cutting edge vehicle platforms and technologies to serve the U.S. Marine Corps in its exhibit at Modern Day Marine 2011 in Quantico, Va.
The Oshkosh Light Combat Tactical Vehicle (LCTV) will be on display at the show. Designed to demonstrate the future of light tactical vehicle technologies – including improved off-road mobility and exportable power capabilities – the LCTV has been independently developed and tested by Oshkosh Defense. The vehicle completed the Tecate SCORE Baja 1000 off-road race in the Mexican desert in 2010. Lessons learned during the race and feedback from the field have advanced the development of technologies available to the Marine Corps today, including Oshkosh offerings for upgrading the HMMWV fleet.
“Oshkosh Defense has developed industry-leading mobility and protection solutions for the Marine Corps’ heavy and medium fleets for years, and we are expanding our efforts with extensive R&D work to bring the light fleets up to a new level of performance,” said John Bryant, vice president and general manager of Marine Corps Programs for Oshkosh Defense. “We’ve developed an upgraded HMMWV using our battle-tested TAK-4® independent suspension system to give Marines improved mobility, survivability and ride quality.”
Oshkosh also will exhibit its innovations with exportable power solutions to meet the increasing energy demands of modern military equipment, in accordance with the DoD Operational Energy Strategy. A Medium Tactical Vehicle Replacement (MTVR) with On-Board Vehicle Power (OBVP), which can export up to 120 kW of military-grade power and reduce the need for generators, will also be on display. The MTVR with OBVP can deliver enough energy to power a command center, city block or small airport, and is currently in testing with Marines.
Vehicles and Advanced Technologies on Display
- The Oshkosh LCTV technology demonstrator
- Oshkosh’s upgraded HMMWV, equipped with the Oshkosh TAK-4 independent suspension system
- The MTVR with OBVP
- An MTVR 8×8 with Load Handling System (LHS) featuring a 16.5 ton payload capacity and steering rear axles for improved maneuverability
- In an outdoor display, the Oshkosh Heavy Recovery System (HRS) technology demonstrator will showcase new performance, mobility and protection for U.S. Armed Forces’ recovery vehicle fleets. Oshkosh Defense developed the HRS based on the proven Logistics Vehicle Replacement System (LVSR) platform and cutting edge wrecker technology from Jerr-Dan, an Oshkosh Corporation company
Oshkosh executives will be available to discuss the vehicles and technologies at booth #2404 during the show, which is taking place Sept. 27-29 at the Marine Corps Base in Quantico.
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 www.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.
®, TM All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
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.
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