OSHKOSH, Wis. (Oct. 6, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will present its latest vehicle innovations for the U.S. Army at the AUSA 2011 Annual Meeting and Exposition in Washington, D.C. The Oshkosh vehicles on display, including the Light Combat Tactical All-Terrain Vehicle (L-ATV), the MRAP All-Terrain Vehicle (M-ATV) tactical ambulance and the TerraMax™ unmanned ground vehicle (UGV) technology, demonstrate the company’s ability to meet the Army’s needs through innovative, cost-effective solutions.
“Our extensive experience with the U.S. Army’s military vehicles in Iraq and Afghanistan gives us a real appreciation for the operational challenges facing our customer,” said Mike Ivy, vice president and general manager of Army Programs for Oshkosh Defense. “Our understanding of those challenges, combined with our expertise as the Army’s heavy and medium tactical wheeled vehicle and M-ATV supplier, gives us tremendous insight as our nation approaches leaner defense budgets. We remain committed to delivering exceptional value to the Army – from production through the entire life cycle, whatever the fleet.”
The L-ATV builds on the success of proven technologies, advanced armor solutions and expeditionary levels of mobility, bringing new levels of protection and maneuverability to the battlefield in the form of a light-duty vehicle.
The L-ATV uses the Oshkosh TAK-4i™ intelligent suspension system to deliver new levels of off-road mobility. Its armored capsule is optimized for protection, weight and mobility, and can accept multiple armor configurations to protect troops from IEDs and other threats. An optional Oshkosh ProPulse® diesel-electric hybrid powertrain can maximize the L-ATV’s efficiency through improved fuel economy, high levels of exportable power – both stationary and on the move – and lower life-cycle costs.
The M-ATV tactical ambulance was developed based on a need identified for a vehicle that allows medics to reach and care for injured troops in challenging operating environments. The M-ATV tactical ambulance delivers the same protected mobility as the M-ATV base and accommodates four patients, up to two of whom can be on litters, for optimal capacity and configuration flexibility. The vehicle is the lightest, most mobile MRAP ambulance available to the U.S. military, and two litter-bound patients can be loaded into the vehicle in less than two minutes for minimal exposure to enemy fire.
The Oshkosh TerraMax UGV technology is designed to retain a vehicle’s original payload and performance capabilities. Designed as a scalable kit, it can be integrated on vehicles, including those built by other manufacturers, as they are produced or retrofitted on existing vehicle fleets. The TerraMax technology can function in the same weather conditions and operating environments as manned vehicles, requiring minimal human interaction and operator training.
The FMTV wrecker, also on display at AUSA, was developed to provide the U.S. Army and National Guard recovery capabilities for medium and light tactical wheeled vehicles in the most extreme conditions. The wrecker uses a retrieval system that has been proven in the field for more than 25 years on multiple Oshkosh vehicles, including the U.S. Army’s Heavy Expanded Mobility Tactical Truck (HEMTT) as well as the U.S. Marine Corps’ Medium Tactical Vehicle Replacement (MTVR) and Logistics Vehicle System Replacement (LVSR).
AUSA attendees will have an opportunity to support the Tragedy Assistance Program for Survivors (TAPS), a national organization that provides compassionate care, free of charge, for the families of fallen military members, by signing a wall at Oshkosh’s booth. Oshkosh will donate $2 to TAPS for every signature collected until it reaches a goal of $100,000. TAPS has provided support to more than 30,000 family members since 1994. Oshkosh Defense has a long-standing history of supporting military members and families, both in the field and back at home, through charitable giving and program support.
“We hope that everyone attending AUSA this year will stop by the Oshkosh booth to sign the signature wall and show their support for the families of America’s fallen military heroes,” said Bonnie Carroll, TAPS founder and president. “We are grateful to Oshkosh for their generous support of TAPS. Oshkosh’s efforts will help TAPS provide comfort and care for so many families who are grieving the death of a loved one who served in the Armed Forces.”
Oshkosh executives will be available to discuss the vehicles, technologies and sustainment services at booth #7328 during the show.
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.
