United Arab Emirates Orders MRAP All-Terrain Vehicles from Oshkosh Corporation
High Performance Off-Road Vehicles to Enhance UAE Ground Operations
Oshkosh, Wis. (July 19, 2012) — Oshkosh Corporation (NYSE: OSK) announced today that the Company’s Defense segment has been awarded a contract to provide the United Arab Emirates (UAE) Armed Forces with 750 Mine Resistant Ambush Protected All-Terrain Vehicles (M-ATVs). The Oshkosh M-ATVs will enhance the UAE’s ground operations by providing greater off-road mobility and crew protection to support national security, as well as critical missions related to the security of the Middle East and the broader community of nations.
The contract awarded to Oshkosh Corporation allows for additional vehicles to be ordered at the discretion of the customer. Oshkosh is scheduled to deliver M-ATVs to the UAE between January and August 2013, pending standard regulatory requirements.
“The UAE continues to expand its role, in partnership with its allies including the United States, in regional security and peace-keeping operations,” said John Urias, executive vice president, Oshkosh Corporation and president, Oshkosh Defense. “The UAE is central to our international growth strategy, and we are honored that they have selected the Oshkosh M-ATV to support their missions.”
“The M-ATV provides the industry’s highest levels of protection and performance,” said Serge Buchakjian, senior vice president and general manager of International Programs, Oshkosh Defense. “No vehicle has been more effective in supporting ground operations – from urban security patrols to combat in harsh desert and mountainous terrain. As we produce and deliver this exceptional vehicle to the UAE Armed Forces, we are equally committed to providing long-term service and to supporting those who rely on our M-ATVs to achieve their missions.”
To date, Oshkosh has received delivery orders for more than 9,500 M-ATVs.
Prior to this M-ATV order, the Company also produced the Oshkosh Global Heavy Equipment Transporter (HET) and Oshkosh Heavy Expanded Mobility Tactical Truck (HEMTT) A4 for international customers. The Global HET features a powerful 700-horsepower engine and is able to transport a main battle tank, armored vehicles, construction equipment and more, reducing the wear on equipment and crew fatigue that typically occurs over long distances. The Oshkosh HEMTT A4 variants including the Patriot tractor, wrecker, and guided missile transporter are also part of the Patriot Advanced Capability (PAC)-3 missile system.
For B-roll video of the M-ATV, visit ftp://oshkosh.psbpr.com/M-ATV/ (username: oshkosh password: defenseFTP).
The Oshkosh M-ATV is proven effective in supporting ground operations – from urban security patrols to combat in harsh desert and mountainous terrain. (Photo: Oshkosh Defense)
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 cyclical nature of the Company’s access equipment, commercial and fire & emergency markets; 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; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to increase prices to offset higher input costs; risks related to facilities consolidation and alignment, including costs and charges thereof and that anticipated cost savings may not be achieved; the Company’s ability to produce defense vehicles under 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 Company or equity market expectations; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; 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 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. 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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