OSHKOSH, Wis. — June 4, 2008 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), received a $120 million modification for Heavy Expanded Mobility Tactical Truck (HEMTT) A4 vehicles from the U.S. Army Tank Automotive and Armaments Command (TACOM). This contract modification enables the continued production of the Family of Heavy Tactical Vehicles (FHTV) currently manufactured by Oshkosh. With this addition, HEMTT A4 production now totals 1,978 vehicles at $658 million, and brings the current FHTV contract total value to more than $2 billion.
This latest contract modification adds 233 HEMTT A4 vehicles to the fleet, and provides the U.S. Army the security of a continuous production stream of vehicles critical to operations in theater and stateside. HEMTT A4 variants produced under this contract will include the recovery vehicle, fuel service vehicle and load handling system (LHS) vehicle.
The HEMTT’s 13-ton payload and off-road capabilities make it the backbone for 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.
The HEMTT’s recent improvements to create the new A4 include a fully air-conditioned and armor-ready cab, more powerful drivetrain, improved suspension, safety improvements and other structural changes to make installation of add-on-armor in the field quicker and easier.
The Army’s FHTV consists of three Oshkosh vehicles, the HEMTT, Palletized Load System (PLS) and Heavy Equipment Transporter (HET). Together these vehicles fulfill critical transport and resupply missions for soldiers.
Oshkosh Defense, a division of Oshkosh Corporation, leads the way in military trucks and armored wheeled vehicles. Since 1917, Oshkosh has continuously developed new products and technologies that make military jobs easier, safer and more efficient. Oshkosh Defense’s comprehensive product lines are recognized for superior performance and reliability, particularly in off-road environments. For more information, visit http://oshkoshdefense.com.
About Oshkosh Corp.
Oshkosh Corp. 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 “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 that 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, especially during a recession, which many believe the U.S. economy has already entered; risks related to reductions in government expenditures and the uncertainty of government contracts; and the Company’s ability to turnaround 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.
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