OSHKOSH, Wis. – Jan. 2, 2009 – Oshkosh Corporation (NYSE:OSK) announced today that Oshkosh Defense has been awarded a sole source contract with the Defense Logistics Agency (DLA) to provide replacement parts for medium and heavy tactical vehicles. This annual contract has a potential duration of 10 years, if all option years are exercised, and a value of up to $1.12 billion. This follows a one-year contract that included seven option years, each of which were exercised, that ended in December 2008.
Under the contract, Oshkosh Defense will supply the DLA with replacement parts to support Oshkosh’s medium and heavy tactical vehicles, which include the Medium Tactical Vehicle Replacement (MTVR), Heavy Expanded Mobility Tactical Truck (HEMTT) and Palletized Load System (PLS). Oshkosh also supplies replacement parts for other manufacturers’ medium and heavy-payload vehicles.
“Oshkosh Defense vehicles provide the superior performance and reliability that our military customers demand, and we are proud to support those vehicles with our top-of-the-line aftermarket parts and services,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Our customers always know their vehicles are backed by an extensive and dependable network of parts and support services with Oshkosh.”
The first contract order is valued at $17.5 million and is for approximately 2,300 replacement part numbers to support Oshkosh’s tactical vehicles.
Oshkosh Defense provides aftermarket service, repair and parts distribution to its customers around the world. With factory-trained technicians, Web-based parts support and service centers worldwide, customers are covered 24/7 whether their vehicles are in the field or in garrison.
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 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.
Forward-Looking Statements
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 recent 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.
