OSHKOSH, Wis. (June 22, 2010) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will be demonstrating several highly mobile and protected vehicles at this year’s Defence Vehicle Dynamics (DVD), including the new SandCat Mine-Resistant Light Patrol Vehicle (M-LPV). The M-LPV provides protection from in-theater threats, such as mines and improvised explosive devices (IED), and delivers the SandCat platform’s exceptional mobility and maneuverability for missions on varying terrains.
DVD 2010 will be taking place at Millbrook Proving Ground in Bedfordshire, England, from June 23 – 24. Oshkosh will be exhibiting at stand OR-31/OR-33 during the event.
“The SandCat M-LPV is ideal for militaries and a wide range of security forces that need a protected, agile vehicle for missions facing the dangers of modern battlefield threats such as IEDs and armor-piercing bullets,” said Ron Ziebell, Oshkosh Defense vice president and general manager, International Programs. “We will demonstrate the vehicle’s small turning radius, off-road capabilities and exceptional ride quality to the U.K. Ministry of Defence at DVD. It is these features that will give forces the handling they need for challenging environments, from bustling, narrow city streets to rocky, mountainous landscapes.”
To date, Sweden, Bulgaria, Canada and Israel have ordered SandCat variants, which also include utility, transport and Special Operations Vehicle (SOV). Customers are using the vehicles for border patrol, security missions and military operations, including in Afghanistan.
Oshkosh also will be demonstrating its MRAP All-Terrain Vehicle (M-ATV) and a Medium Tactical Vehicle Replacement (MTVR) 8×8 Load Handling System (LHS) at DVD 2010.
The M-ATV was developed to meet an urgent need in Afghanistan for a vehicle that delivered MRAP-level protection capabilities but with enhanced mobility. The M-ATV is built around a proven chassis and uses the Oshkosh TAK-4® independent suspension system to achieve a 70 percent off-road profile capability. This enhanced mobility, which includes 16 inches (40 centimeters) of independent wheel travel, helps the vehicle traverse cross-country terrain or unimproved road networks in places like Afghanistan.
The Oshkosh MTVR delivers the mobility needed for extensive off-road logistics missions. The vehicle, like the M-ATV, uses the Oshkosh TAK-4 independent suspension system to deliver a 70 percent off-road profile capability. Oshkosh has produced more than 10,000 of these highly mobile tactical trucks. Additionally, several MTVRs have exceeded 70,000 operational miles (112,650 kilometers) on the challenging Afghanistan terrain and have maintained readiness rates greater than 92 percent.
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 planned decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and tight credit markets; the duration of the global recession, 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 procurement of products and services and funding thereof; risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine Corps contracts, the startup of the Family of Medium Tactical Vehicles contract and the uncertainty of government contracts generally; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; and the potential for increased costs relating to compliance with changes in laws and regulations. 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.
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