November 15, 2010
OSHKOSH, Wis. (Nov. 15, 2010) — Oshkosh Corporation (NYSE:OSK) announced today its first participation in the 43rd Annual Tecate SCORE Baja 1000 off-road race Nov. 18-20 in Mexico. The Oshkosh Extreme Racing team will run its Light Concept Vehicles (LCV) through the rugged 1,061-mile desert course from Ensenada to La Paz.
Oshkosh engineers have designed the LCV to incorporate the company’s latest advancements in off-road suspension and diesel-electric powertrain performance. The Oshkosh Extreme Racing team will be racing two vehicles in the Tecate SCORE Baja 1000 as part of its rigorous testing protocol.
“Oshkosh engineers are dedicated to producing the most advanced vehicle technologies for a variety of highly-specialized industries,” said Chris Yakes, Oshkosh Corporation vice president of Advanced Products Engineering and Oshkosh Extreme Racing team member. “In pursuit of next-generation technologies for future fleets, we’ve been testing our concept vehicles in remote locations in the United States, and we are now competing in the Tecate SCORE Baja 1000 – our most intense challenge to date. We are excited about this opportunity.”
The LCV includes the next-generation of TAK-4® independent suspension systems. The new system expands on the Oshkosh patented TAK-4 suspension by increasing off-road mobility, improving vehicle maneuverability and providing a smoother ride. The Oshkosh ProPulse® diesel-electric powertrain design delivers improved fuel economy and can export significant levels of electrical power.
“Oshkosh got its start as a developer of severe-duty four-wheel drive trucks, so it is only fitting that it competes its latest concept vehicle in the most extreme off-road race – the Tecate SCORE Baja 1000,” said Sal Fish, SCORE International’s president and CEO, which has sanctioned and produced the event since 1975. “We’ve created a new class for the Oshkosh Extreme Racing Team based on their vehicle’s unique capabilities, weight and dimensions, and look forward to seeing it perform.”
The two Oshkosh Extreme Racing vehicles, numbered M1 and M2 for the race, will be driven by members of California Gold Racing (CGR), led by legendary race mogul Glenn Harris. As a member of the Oshkosh Extreme Racing team, CGR will also provide logistics support, while Oshkosh engineers will manage the pit crews and technical support for the race.
“We’re looking forward to the race and its inherent ability to push our team and the vehicle technologies we’ve developed,” Yakes said. “We expect to learn a lot from this event and will apply those learnings to our ongoing research and development efforts.”
About the Tecate SCORE Baja 1000
The 43rd Annual Tecate SCORE Baja 1000, the granddaddy of all desert races, which is the season-finale of the five-race 2010 SCORE Desert Series will be held on Mexico’s magnificently mysterious Baja California peninsula next Tuesday through Saturday. Massive crowds reaching nearly 250,000 are anticipated to again be spread out along the rugged 1061.69-mile course that travels on both sides of the peninsula as the world’s most famous desert race will start in Ensenada, Baja California and finish all the way down the peninsula in La Paz in Baja California Sur. With over 300 expected entries for cars, trucks, motorcycles and ATVs competing in 33 Pro and 7 Sportsman classes for cars, trucks, motorcycles and ATVs in the internationally televised race, entries have come from 37 U.S. states and 19 countries. SCORE International, the world’s foremost desert-racing sanctioning body, is headquartered in Los Angeles. If was founded in 1973 and has been led since soon after that date by Sal Fish, SCORE CEO and President. The organization produces the five-race SCORE Desert Series, with three events held annually in Mexico and two in Southern Nevada.
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.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward-Looking Statements
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 impact on revenues and margins of the projected decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness and tight credit markets; the Company’s ability to produce vehicles under the FMTV 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 equity market expectations; the expected level and timing of 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 potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; the potential for commodity and other raw material costs to rise sharply, particularly in a future economic recovery; 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 costs and charges as a result of facilities consolidation and alignment; risks related to production delays arising from supplier 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 work stoppages and other labor matters; the potential for disruptions or cost overruns in the Company’s global enterprise system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; and risks related to disruptions in the Company’s distribution networks. 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.