Oshkosh Defense Expands Operations in Canada
January 9, 2012 |
New Ottawa office to support Canadian defense programs
OSHKOSH, Wis. & OTTAWA, Ontario (Jan. 9, 2012) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), announced today that the company will open a new office in Ottawa, Ontario, to support vehicle programs for the Canadian Department of National Defence (DND).
“We are committed to supporting the DND’s vehicle programs and creating programs of lasting value for the Canadian economy,” said Serge Buchakjian, senior vice president and general manager of International Programs for Oshkosh Defense. “Our presence in Ottawa will enable regular dialogue and long-term collaboration – from the initial production through vehicle sustainment.”
The Oshkosh office in Ottawa will provide program management, industrial and regional benefits management, engineering, contract management, and purchasing support for Canadian programs.
The office expands Oshkosh Corporation’s established presence through Ontario-based London Machinery, Inc. (LMI), a subsidiary that was founded in Canada in 1905. LMI will provide advanced vehicle manufacturing capabilities including assembly, subsystem integration and final acceptance testing for DND programs. Work will be performed by LMI’s highly skilled workforce, applying the latest manufacturing methods and quality processes at the company’s 140,000-square-foot facility. Oshkosh also is teamed with General Dynamics Land Systems-Canada to provide in-country vehicle support and system integration.
The new office also increases the global presence of Oshkosh Defense. The company has offices around the world, including locations in North America, Europe and the Middle East.
Oshkosh is currently pursuing the DND’s Tactical Armoured Patrol Vehicle (TAPV) program, which will replace the Armoured Patrol Vehicle (APV) and the Coyote reconnaissance vehicle.
Oshkosh delivered its TAPV to Aberdeen Test Center in Maryland in August for DND mobility, survivability and weapons testing. The fully integrated Oshkosh TAPV is based on the proven Oshkosh Mine-Resistant Ambush Protected All-Terrain Vehicle (M-ATV) platform and is customized to the Canadian Forces’ requirements.
Oshkosh is also pursuing the DND’s Standard Military Pattern (SMP) portion of the Medium Support Vehicle System (MSVS) program. The company will leverage its existing vehicle platforms and technologies for the MSVS proposal submission.
Oshkosh has more than 90 years of experience mobilizing military forces around the world. Approximately 20 countries rely on Oshkosh’s heavy, medium, light and MRAP vehicles.
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 www.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.
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 DoD’s procurement of products and services and funding thereof, including the impact of the DoD’s allocation of certain tires which will restrict and delay certain FHTV sales; 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 uncertainty, lower municipal spending 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 potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; 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 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.