OSHKOSH, Wis. (Sept. 22, 2011) — Heavier vehicles and more powerful improvised explosive devices (IED) are placing new mobility and protection demands on the U.S. Armed Forces’ recovery vehicle fleet. To address these challenges, Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will unveil the latest in heavy recovery technology at Modern Day Marine 2011 Sept. 27-29 in Quantico, Va.
Oshkosh Defense developed the Heavy Recovery System (HRS) technology demonstrator based on the battle-proven Logistics Vehicle Replacement System (LVSR) platform and cutting-edge wrecker technology from Jerr-Dan, an Oshkosh Corporation company.
“The Oshkosh HRS offers the military unsurpassed recovery abilities from a single vehicle,” said Mike Ivy, vice president and general manager of Army Programs for Oshkosh Defense. “Oshkosh independently developed a highly-protected and mobile platform and worked with our sister company, Jerr-Dan, to integrate top commercial wrecker capabilities. We built this mobile platform to lift and retrieve the heavier armored, IED-damaged vehicles, and most importantly, it integrates the levels of troop protection required in current conflicts.”
With a Jerr-Dan 50-ton rotating boom, dual 50,000 lb boom winches, and dual 40,000 lb constant pull drag winches, the HRS can retrieve both Class I and Class II MRAPs, and even the largest military wheeled vehicles. The system can rescue overturned vehicles and drag severely damaged vehicles to the recovery vehicle for hook-up and return to base. The HRS offers spading, along with the ability to operate all four winches simultaneously to enable vehicle recovery in a mire or ravine. Four-axle steering capability delivers a tight turning radius, and superior mobility is delivered through the use of Oshkosh’s TAK-4® independent suspension system across all five axles.
These capabilities are delivered on the battle-tested LVSR platform, used by the U.S. Marine Corps for the transportation of heavy payloads, such as munitions, fuel, water and heavy equipment. The HRS features a proven underbody blast protection for improved crew survivability. The system also has the ability to accept add-on armor kits to increase protection for troops in high-tempo operations across expansive and varied terrain.
At Modern Day Marine, Oshkosh Defense will also display a full range of cutting-edge vehicle platforms and technologies to serve the U.S. Marine Corps – light through heavy. Oshkosh will be exhibiting at booth #2404 at the Marine Corps Base in Quantico.
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 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.
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 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 cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness, tight credit markets and lower municipal spending; 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 impact on revenues and margins of the decrease in M-ATV production rates; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; risks related to work stoppages and other labor matters, especially in light of the pending contract expiration for union employees at the Company’s Oshkosh defense facilities; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to pass on to customers price increases to offset higher input costs; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; 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 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; the potential for disruptions or cost overruns in the Company’s global enterprise resource planning system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Company’s distribution networks; 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. 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.
