OSHKOSH, Wis. — June 10, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), designs, produces and supports a diverse line of international vehicles that are available to governments worldwide, and will showcase a sampling of these vehicles at Eurosatory 2010. Oshkosh will be unveiling the SandCat Mine-Protected Light Patrol Vehicle (M-LPV) as well as exhibiting its MRAP All-Terrain Vehicle (M-ATV), Medium Tactical Vehicle Replacement (MTVR) 8×8 Load Handling System (LHS) and a variant of its Family of Medium Tactical Vehicles (FMTV) at the event, which will take place June 14-18 in Paris, France. Oshkosh is exhibiting at booth #G441 in Hall 6.
“We pursue programs around the world, and international militaries continue to show interest in our advanced vehicle platforms that meet varying payload, protection and performance requirements,” said Ron Ziebell, Oshkosh Corporation vice president and general manager, Defense International Programs. “We look forward to meeting with current and potential global customers at Eurosatory to see how we can best meet their needs, from vehicle design and production to the complete spectrum of sustainment support.”
The SandCat M-LPV is a light patrol vehicle designed to protect users from mine attacks and improvised explosive devices (IED), as well as standard ammunition threats and armor-piercing bullets, while offering superior off-road performance. The M-LPV can cover the needs of a wide range of security forces conducting various operations over the distances and terrain required by a light protected patrol vehicle’s mission profile.
Improved performance is achieved by utilizing advanced composite ceramic armor materials and a blast-management system for the protective cabin, while optimizing the cabin’s overall size and structure, with a growth capability against new and emerging threats. The vehicle seats four and has an option for two more. To date, SandCat vehicles have been sold to Sweden, Bulgaria, Canada and Israel.
The M-ATV provides MRAP-level protection capabilities and delivers enhanced mobility. The vehicle 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 allows the vehicle to overcome rocky, rutted terrain or deteriorating road networks in places like Afghanistan. To date, Oshkosh has received orders for 8,079 M-ATVs.
The MTVR 8×8 LHS has a payload capacity of up to 16.5 tons and, like all MTVR variants, uses the TAK-4 system to deliver exceptional off-road mobility for extensive cross-country operations. Oshkosh has produced more than 10,000 MTVRs, several of which have exceeded 70,000 operational miles on the challenging Afghanistan terrain, with readiness rates greater than 92 percent. The vehicle also is available in cargo truck, dump truck, tractor and wrecker (recovery) variants.
Oshkosh’s FMTV is a series of 17 models and 23 variants for the U.S. Army. The company has received orders for more than 5,000 trucks and trailers to date. Variants include cargo, tractor, van, wrecker, tanker and dump truck, with payloads ranging from 2.5 tons to 10 tons. FMTV trucks feature a common, armor-ready cab and share a parts commonality of more than 80 percent for simplified maintenance and reduced supply-chain costs.
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 Compan
