OSHKOSH, Wis. — Jan. 12, 2009 — Oshkosh Corporation (NYSE:OSK), announced today that its Defense division submitted its proposal for the U.S. Army’s MRAP All Terrain Vehicle (M-ATV) program on January 9, 2009. The company’s submittal is based on the combat-proven Medium Tactical Vehicle Replacement (MTVR) chassis, which has been successfully operating off road in Afghanistan as well as around the world for several years.
The U.S. Army Tank-automotive and Armaments Command (TACOM) is accepting proposals for the M-ATV program, which seeks a highly mobile, more maneuverable and durable alternative to the current Mine-Resistant Ambush Protected (MRAP) vehicles for off-road operation in the rough terrain of Afghanistan. Oshkosh’s nondevelopmental M-ATV vehicle features an existing hull, which was developed and successfully tested for the Joint Light Tactical Vehicle (JLTV) program. The hull, with its superior MANPRINT, and MTVR chassis combine to create a highly survivable, highly mobile combat vehicle to meet the urgent need for the Warfighter in Afghanistan.
“The Oshkosh Defense M-ATV is a variant of our armored MTVR, a proven vehicle that has protected and served our military men and women in off-road operations for years,” said John Stoddart, Oshkosh Corporation executive vice president and president, Defense.
There are six distinct benefits that Oshkosh believes sets its vehicle ahead of any other offering. The vehicle is: Survivable, Mobile, Mission-Proven, Production-Ready, Best Value and Low Price. “This is a mature, highly mobile vehicle that has operated successfully in the off-road mountainous terrain of Afghanistan, and we have several manufacturing facilities within our corporation that have excess capacity to exceed the Services’ delivery requirements,” added Stoddart. “We stand ready to provide the Services with the vehicle they want.”
To ensure superior protection and survivability, Oshkosh is partnered with Plasan North America to provide the Oshkosh M-ATV’s armor system. Plasan has produced armor systems for more than 5,000 current MRAP vehicles and for the Armored Cab MTVR. These armor systems have saved lives in both Iraq and Afghanistan. The vehicle also will feature Oshkosh’s signature TAK-4® independent suspension system for exceptional off-road ride quality and durability to meet the essential capability not available in the current MRAP fleet – exceptional off-road mobility and durability.
The Oshkosh M-ATV provides superior weight-carrying capability to avoid axles breaking in the rugged terrain of Afghanistan. The Oshkosh M-ATV further provides parts and maintenance commonality with the MTVR and other tactical vehicles, which will minimize production costs and increase mission readiness.
The Oshkosh MTVR was developed and fielded nearly 10 years ago as a next-generation replacement for the medium tactical fleet for the Marine Corps, particularly for all-terrain missions. The vehicle has more than 400,000 government-tested miles at a 70 percent off-road mission profile, making it ideal for Afghanistan. Many of the MTVRs have more than 70,000 operational miles in Afghanistan and are proving their durability with a 92 percent or better operational readiness rate in theater. The vehicle’s success was recently marked following Oshkosh’s production of the 10,000th MTVR in 2008. The vehicle features an off-road 7.1-ton payload capacity and an on-road 15-ton payload capacity.
The Oshkosh M-ATV is the survivability, mobility, mission-proven, production-ready and best value/low price solution for the Warfighter. The company’s main focus is to provide the best survivability solution coupled with the best mobility system to get American men and women into and out of the fight in areas where other vehicles fear to tread.
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.
• TAK-4 is a registered trademark of Oshkosh Corporation
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 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.
