OSHKOSH, Wis. (December 21, 2017) – Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, announced today that the U.S. Army has placed a $100.1 million order for the Joint Light Tactical Vehicle (JLTV) program, to include 258 vehicles and associated installed and packaged kits. This is the seventh order for JLTVs since the contract was awarded in August 2015.
Intended to replace the aging up-armored HMMWV fleet, the JLTV program fills a critical capability gap in the U.S. military’s current vehicle line-up.
“From a scheduling perspective, the JLTV program is on track. We are currently in Low Rate Initial Production (LRIP) and have delivered over 1,000 vehicles since October 2016,” said Dave Diersen, Vice President and General Manager of Joint Programs at Oshkosh Defense. “The initial LRIP vehicles are undergoing a spectrum of Government testing, and Soldiers and Marines will begin receiving JLTVs for operational use in FY19.”
The program also anticipates a Full Rate Production decision in FY19, and both Army and Marine Corps Initial Operating Capability (IOC) in early FY20.
“Over time, we are confident there will be opportunities to expand this powerful vehicle platform to include new variants and configurations,” Diersen continued. “The JLTV program was designed to provide a new generation of protection, mobility and network capability. We also see significant international market potential for allies requiring a tactical wheeled vehicle proven to provide the ballistic protection of a light tank, the underbody protection of an MRAP-class vehicle, the network capability of a mobile command center, and the off-road mobility of a Baja racer.”
About Oshkosh Defense
Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services. For decades Oshkosh has been mobilizing military and security forces around the globe by offering a full portfolio of heavy, medium, light and highly protected military vehicles to support our customers’ missions. In addition, Oshkosh offers advanced technologies and vehicle components such as TAK-4® independent suspension systems, TerraMax® unmanned ground vehicle solutions, Command Zone™ integrated control and diagnostics system, and ProPulse® diesel electric and on-board vehicle power solutions, to provide our customers with a technical edge as they fulfill their missions. Every Oshkosh vehicle is backed by a team of defense industry experts and complete range of sustainment and training services to optimize fleet readiness and performance. Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE: OSK].
To learn more about Oshkosh Defense, please visit us at oshkoshdefense.com.
About Oshkosh Corporation
Founded in 1917, Oshkosh Corporation is celebrating 100 years of business and making a difference in people’s lives in 2017. Oshkosh is a global leader in designing and manufacturing a broad range of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®. Since the Company’s humble beginnings, Oshkosh has grown in size and global footprint. Today, Oshkosh products can be found in more than 150 countries and are recognized around the world for quality, durability and innovation. Oshkosh Corporation is a different integrated global industrial committed to making a difference for customers, shareholders, our communities and the environment. For more information, please 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.
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