OSHKOSH, Wis. — May 16, 2008 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), along with the U.S. Marine Corps and the Navy Seabees commemorated the 10,000th Medium Tactical Vehicle Replacement (MTVR) to roll off Oshkosh production lines with a ceremony near the company’s headquarters in Oshkosh, Wis., on May 16.
The MTVR was developed as an all-terrain, multi-purpose logistics vehicle for the U.S. Marines and Navy Seabees. The contract was awarded in 1998 and the MTVR originated as a replacement for the Medium Tactical Vehicle (MTV) to better handle the stress of off-road applications.
“The MTVR provides the cross-country mobility that the Marines and Seabees require in modern operations while maintaining payload capability,” said John Stoddart, Oshkosh Corporation executive vice president and president, Defense. “Previously, vehicles in this class were limited largely to roadways, carried smaller payloads and lacked the technology available in the MTVR.”
Incorporation of technologies such as the Oshkosh TAK-4® independent suspension system, automatic traction control, a central tire inflation system and Command Zone® advanced electronics make the MTVR a durable and maneuverable vehicle on the most challenging terrains, including those in Iraq and Afghanistan.
“The Marines need reliable vehicles on and off the battlefield. We rely on the MTVR to get our Marines and supplies through tough environments that would otherwise be limiting for other vehicles,” said David Branham, public affairs officer for Program Executive Office Land Systems Marine Corps, Quantico, Va.
The MTVR comes in several variants, allowing for the transportation of troops, materials or equipment. It features a 15-ton payload on-road and a seven-ton payload off-road.
In 2005, Oshkosh Defense brought additional value to the MTVR program through the process of remanufacturing. Within the Marine Corps Recapitalization Program, early model MTVRs that endured high operational tempo and damage from battle are returned to Oshkosh where they are completely rebuilt and upgraded to the latest configuration.
Remanufactured MTVRs receive a new-vehicle warranty and are considered to have zero miles and zero hours. The delivery of these like-new vehicles is accomplished at no more than 75 percent the cost of a new vehicle, saving both the Marines and taxpayers significant amounts of money.
Oshkosh Defense, a division of Oshkosh Corp. leads the way in military trucks and armored wheeled vehicles. Since 1917, Oshkosh has continuously developed new products and technologies that make military jobs easier, safer and more efficient. Oshkosh Defense’s comprehensive product lines are recognized for superior performance and reliability, particularly in off-road environments. For more information, visit http://oshkoshdefense.com.
About Oshkosh Corp.
Oshkosh Corp. 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.
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 “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 that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a recession, which many believe the U.S. economy has already entered; risks related to reductions in government expenditures and the uncertainty of government contracts; and the Company’s ability to turnaround 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.
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