OSHKOSH, Wis. — Dec. 9, 2008 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a $250 million contract modification with the U.S. Army Tank-automotive and Armaments Command (TACOM) to manufacture and deliver an additional 825 of the next-generation Heavy Expanded Mobility Tactical Trucks (HEMTT) as part of the Family of Heavy Tactical Vehicles (FHTV) contract.
Under the contract, Oshkosh Defense will supply load handling system (LHS) variants of the next-generation HEMTT – the HEMTT A4 – which incorporates a fully air-conditioned and armor-ready cab, more powerful drivetrain, improved suspension, safety improvements, and other structural changes to help make installation of add-on-armor in the field quicker and easier. The Oshkosh® HEMTTs are long term armor strategy (LTAS) compliant and come off the assembly line fitted with upgraded suspensions and integral (“A” kit) armor. They also will be ready to receive an add-on (“B” kit) armor appliqué.
“The HEMTT continues to prove its superiority by doing today what it has done for decades, which is serve and protect our troops, but now adds the next-generation components of advanced performance and safety,” said John Stoddart, Oshkosh Corporation executive vice president and president, Defense. “Oshkosh’s HEMTT gets the job done in the world’s most demanding environments.”
The Oshkosh HEMTT’s 13-ton payload and off-road capabilities make it the backbone of the U.S. Army’s logistics fleet. Since its introduction in 1985, the HEMTT has helped keep the Army on the move during major conflicts such as Operations Desert Storm and Iraqi Freedom.
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.
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.
