Oshkosh Defense Awarded $132 Million Delivery Order With U.S. Army to Provide Additional Armor ‘B’ Kits
OSHKOSH, Wis. — Jan. 27, 2009 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a delivery order with the U.S. Army’s Tank-automotive and Armaments Command (TACOM) for more than 1,700 additional armor “B” kits for the Heavy Expanded Mobility Tactical Truck (HEMTT) A4.
The delivery order to the Family of Heavy Tactical Vehicles (FHTV) contract is valued at more than $132 million. The B-kit armor produced under this delivery order is an add-on armor appliqué separate from the integral (“A” kit) armor already installed on the Oshkosh HEMTT® A4. Oshkosh’s Palletized Load System (PLS) A1 shares a common cab with the HEMTT A4 and could use the armor kits once it is fielded.
The 13-ton payload and off-road capabilities of the Oshkosh HEMTT make it the backbone for the U.S. Army’s logistics fleet. Since its introduction in 1985, the HEMTT has helped keep the Army on the move during major conflicts such as Operations Desert Storm and Iraqi Freedom. The HEMTT’s recent improvements to create the new A4 include a fully air-conditioned and armor-ready cab, more powerful drivetrain, improved suspension, safety improvements and other structural changes to help make installation of add-on-armor in the field quicker and easier.
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 Corp. 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.
• HEMTT is a registered trademark of Oshkosh Corporation.
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 “may,” “should,” “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 which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of the Company’s financial leverage position, especially given turmoil in the credit markets, and the level of associated borrowing costs; the Company’s ability to maintain compliance with financial covenants in its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global economic downturn and credit crisis; the Company’s ability to offset higher steel and raw material costs through other cost decreases or product selling price increases; risks related to reductions in government expenditures and the uncertainty of government contracts; risks associated with international operations and sales, including foreign currency fluctuations; and the Company’s ability to turn around 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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