OSHKOSH, Wis. (March 2, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), is supporting the National Guard Youth Foundation as a platinum sponsor of its ChalleNGe Champions Gala, held March 1 in Washington, D.C. The annual event is held to raise awareness about the Youth ChalleNGe Program – which provides high school dropouts with new opportunities – and also honors those who have turned their lives around through the program.
“The National Guard Youth Foundation to date has graduated more than 100,000 cadets around the country through the ChalleNGe program,” said Andy Hove, Oshkosh Corporation executive vice president and president of Oshkosh Defense. “We are honored to support the National Guard and this unique program that aims to give a second chance to our nation’s youth who might otherwise slip through the cracks.”
The National Guard founded the Youth ChalleNGe Program in 1993. The program consists of a 22-week residential phase followed by a 12-month mentoring phase. It is open for 16- to 18-year-old male and female high school dropouts. There are 33 ChalleNGe program sites in 27 states and the territory of Puerto Rico.
Oshkosh Defense has a history of supporting military members and their families. In 2010, Oshkosh Defense donated more than $150,000 to the Armed Forces Foundation in funds raised through its “Rumble With a Cause” sweepstakes. The company also recruits and employs active-duty and retired military members, including many who serve in the National Guard and Reserve. Oshkosh received the Secretary of Defense Employer Support Freedom Award in 2008 from the Department of Defense. It is the highest recognition given by the U.S. government to employers for their support of employees who serve in the Guard and Reserve. The Wisconsin Employer Support of the Guard and Reserve also recognized Oshkosh in 2008 with the Pro Patria and Above and Beyond awards.
About the National Guard Youth Foundation
The National Guard Youth Foundation is a non-profit 501(c)(3) organization. The mission of the National Guard Youth Foundation is to foster program awareness, advocate for the program goals and funding, and provide scholarships, training and workforce transition assistance to the graduates of the National Guard Youth ChalleNGe Program. In cooperation with the National Guard Youth ChalleNGe Program, the Foundation assists youths who drop out of secondary school to improve their life skills, education and employment, creating the next generation of skilled workforce in America. The Honorary Board of Directors is co-chaired by President George H.W. Bush and Senator Mary Landrieu (D-LA). For more information about the National Guard Youth Foundation, visit www.ngyf.org.
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.
®, ™ 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 impact on revenues and margins of the decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness 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 expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof, especially in an environment when the U.S. government is operating under a Continuing Resolution budget action; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; 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; the potential for commodity and other raw material costs to rise sharply, particularly in a future economic recovery; 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; risks related to work stoppages and other labor matters; the potential for disruptions or cost overruns in the Company’s global enterprise system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; and risks related to disruptions in the Company’s distribution networks. 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.
