Oshkosh Defense Delivers 15,000th FMTV Truck
Oshkosh FMTV program sets records for quality and vehicle delivery speed
OSHKOSH, Wis. (April 17, 2013) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has delivered the 15,000th Family of Medium Tactical Vehicles (FMTV) truck to the U.S. Army and National Guard – setting quality and delivery records for the program. Since being awarded the FMTV contract in 2010, Oshkosh has delivered more than 21,000 FMTV trucks and trailers.
The U.S. Army and National Guard rely on the FMTV at home and abroad in tactical and combat operations, relief efforts, and unit resupply missions. Oshkosh has delivered soldiers unprecedented FMTV quality. In addition, the company operates an enterprise-wide supplier network for multiple vehicle programs to provide economies of scale across fleets.
“The FMTV program is exemplary of the quality and value that Oshkosh provides to our military customers across all of our operations,” said John Bryant, senior vice president of Defense Programs for Oshkosh Defense. “Our team has worked in harmony with the Army’s goals and schedule from the onset to produce and deliver a vehicle with Oshkosh quality and performance, which provides soldiers with greater confidence as they perform their missions.”
As part of the FMTV contract, Oshkosh has delivered the FMTV Wrecker, with its tested retrieval system that leverages Oshkosh’s extensive wrecker experience based on the U.S. Army’s Heavy Expanded Mobility Tactical Truck (HEMTT). Fielding began in December 2012.
The five-year FMTV requirements contract for the production of trucks and trailers, as well as support services and training, runs through fiscal year 2014. Oshkosh also is actively pursuing opportunities for its FMTV with U.S. allies and coalition partners around the world. To date, the company has received foreign military sales (FMS) orders from three international militaries.
The Oshkosh FMTV is a series of 17 models and 23 configurations ranging from 2.5-ton to 10-ton payloads. The vehicles feature crew-protecting armor and advanced technologies to provide the capability, versatility, mobility and protection to move troops and supplies, recover vehicles and weapon systems, or haul equipment wherever the mission requires. Commonality of parts of over 80 percent across chassis variants optimizes logistics efficiency and reduces operational costs. The Long-Term Armor Strategy-compliant cab and other advanced technologies give military personnel the enhanced protection they need to confidently complete their missions.
About Oshkosh Defense
Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services. For more than 90 years, Oshkosh has been mobilizing military and security forces around the globe by offering a full portfolio of heavy, medium, light and highly protected military vehicles to support our customers’ missions. In addition, Oshkosh offers advanced technologies and vehicle components such as TAK-4® independent suspension systems, TerraMax™ unmanned ground vehicle solutions, Command Zone™ integrated control and diagnostics system, and ProPulse® diesel electric and on-board vehicle power solutions, to provide our customers with a technical edge as they fulfill their missions. Every Oshkosh vehicle is backed by a team of defense industry experts and complete range of sustainment and training services to optimize fleet readiness and performance.
To learn more about Oshkosh Defense, please visit us at 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®, Jerr-Dan®, Frontline™, 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 cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially in the current environment where there are conflicting signs regarding the global economic outlook and the ability of the U.S. government to resolve budgetary and debt issues; the expected level and timing of the 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 ability to comply with laws and regulations applicable to U.S. government contractors; the ability to increase prices to raise margins or offset higher input costs; increasing commodity and other raw material costs, particularly in a sustained economic recovery; risks related to the Company’s exit from its ambulance business, including the amounts of related costs and charges; risks related to facilities consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; 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 Company or equity market expectations; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; 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 or shipment delays arising from quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to actions of activist shareholders; and risks related to 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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