U.S. ARMY PLACES $484 MILLION ORDER FOR 1,574 JOINT LIGHT TACTICAL VEHICLES
OSHKOSH, Wis. (June 29, 2018) — Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, announced today that the U.S. Army has placed a $484 million order for 1,574 Joint Light Tactical Vehicles (JLTV) and associated installed and packaged kits.
“This latest order follows the completion of the Multiservice Operational Test and Evaluation (MOT&E) conducted by the U.S. Army and Marine Corps and further demonstrates that the JLTV program continues to be a top modernization priority for our armed services,” said George Mansfield, Vice President and General Manager of Joint Programs at Oshkosh Defense. “The JLTV is ready to support our troops, and we look forward to getting more soldiers and Marines into this extremely mobile, protected, and proven next-generation light tactical vehicle.”
In addition to the recently completed operational testing, the JLTV also completed Reliability Qualification Testing earlier this year, accumulating over 100,000 miles and exceeding reliability requirements.
To date, Oshkosh has produced more than 2,000 JLTVs and has delivered more than 1,600 JLTVs to the U.S. Army and Marine Corps. A Full Rate Production (FRP) decision is expected in FY19.
About Oshkosh Defense
Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services. For decades 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. Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE: OSK]. To learn more about Oshkosh Defense, please visit us at www.oshkoshdefense.com.
About Oshkosh Corporation
Founded in 1917, Oshkosh Corporation is more than 100 years strong and continues to make a difference in people’s lives. Oshkosh brings together a unique set of integrated capabilities and diverse end markets that, when combined with the Company’s MOVE strategy and positive long-term outlook, illustrate why Oshkosh is a different integrated global industrial. The Company is a leader in designing, manufacturing and servicing a broad range of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®.
Today, Oshkosh Corporation is a Fortune 500 Company with manufacturing operations on four continents. Its products are recognized around the world for quality, durability and innovation and can be found in more than 150 countries around the globe. As a different integrated global industrial, Oshkosh is committed to making a difference for team members, customers, shareholders, communities and the environment. For more information, please visit www.oshkoshcorporation.com.
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.
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