Oshkosh Defense Showcases Mission-Proven Vehicle Platforms at CANSEC 2011 — Press Release

by: Matthew Potter
May 31, 2011

Category: Business Line, Companies, Events, logistics, Oshkosh Truck Corp, Press Releases, production program | RSS 2.0

OSHKOSH, Wis. & LONDON, Ontario (May 31, 2011) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), will present a wide range of world-class vehicle platforms and capabilities at CANSEC 2011, hosted June 1-2 in Ottawa, Ontario.

As the only defense contractor actively manufacturing heavy, medium and light tactical vehicles for the U.S. military and international customers, Oshkosh Defense is applying its mission-proven expertise and capabilities to serve the Canadian Forces. Multiple Oshkosh vehicles have been qualified for the Canadian Department of National Defence’s (DND) Standard Military Portion (SMP) of the Medium Support Vehicle System (MSVS) and the Tactical Armoured Patrol Vehicle (TAPV) programs.

“We’ve been working with the DND for many years now to fully understand the capabilities the soldiers and the Canadian government require from the MSVS and TAPV programs,” said Serge Buchakjian, Oshkosh Defense senior vice president and general manager of International Programs. “The Oshkosh platforms on display at CANSEC have proven performance in extreme environments, including Afghanistan. Our MSVS and TAPV prototypes, specifically designed to meet DND requirements, are in the product validation and testing phase of our rigorous product development process. In addition to the vehicles themselves, we’ve created life-cycle support solutions through close collaboration with General Dynamics Land Systems-Canada and Oshkosh Corporation’s London Machinery, Inc. (LMI) – all focused on long-term support and economic benefits for Canada.”

On Display at CANSEC

Oshkosh Defense will display two of its three vehicles down-selected for the MSVS program, the Heavy Expanded Mobility Tactical Truck (HEMTT) A4 and the Medium Tactical Vehicle Replacement (MTVR). The third down-selected vehicle is the Oshkosh Family of Medium Tactical Vehicles (FMTV), a proven, maneuverable platform that enhances unit mobility, safely transports troops and hauls equipment in support of a wide range of tactical operations.

More than 27,500 HEMTTs have been produced in multiple variants to fulfill a wide range of logistics operations for militaries across the globe. The latest generation of this 11.8 tonne-payload vehicle features an armored cab, which can be augmented with standardized, bolt-on kits allowing forces to more easily, quickly and cost-effectively increase protection based on mission requirements.

The MTVR was built to operate extensively in off-road missions and uses the Oshkosh TAK-4® independent suspension system to help achieve a 70 percent off-road profile capability. More than 10,000 MTVRs have been deployed with the U.S. Armed Forces.

Oshkosh also will have its MRAP All-Terrain Vehicle Multi Mission Vehicle (M-ATV MMV) and SandCat protected, multi-role vehicle on display. The M-ATV is currently providing much-needed levels of protection and mobility to allied forces in Afghanistan. The M-ATV MMV was configured for command and control, reconnaissance, and missile carrier operations, and has many commonalities with the TAPV prototype Oshkosh unveiled earlier this year. The SandCat was designed specifically for the international market for military and special operations, security duties, peacekeeping, border patrol, and law enforcement. Oshkosh has received orders for the SandCat from Canada as well as Mexico, Sweden, Bulgaria, Nigeria and Israel.

Oshkosh Defense executives will be on hand at CANSEC to discuss these offerings and more at booth #3036. Oshkosh vehicles will be exhibited in the outside display area in booth #219.

About General Dynamics Land Systems-Canada

General Dynamics Land Systems-Canada, located in London, Ontario, Canada, is a business unit of General Dynamics Land Systems of Sterling Heights, Mich. For 34 years, more than 2,200 highly skilled technical employees have designed, manufactured, delivered and supported to global customers a unique family of light armoured vehicles (LAV). More information on the company is available at www.gdlscanada.com. General Dynamics Land Systems is a business unit of General Dynamics (NYSE: GD). More information about General Dynamics is available at www.gd.com.

About London Machinery
London Machinery Inc., an Oshkosh Corporation company is a leading North American manufacturer of concrete mixer trucks. Products include Standard mixers, High-Performance mixers and Trailer mixers. In addition, London is Canada’s exclusive sales and support source for McNeilus® refuse trucks, CON-E-CO® batch plants and Oshkosh® S-Series™ trucks. To learn more about London, visit www.lmi.ca.

About Oshkosh Defense

Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armoured wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armour 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 www.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 decrease in M-ATV production rates; 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 and at required volumes to receive and sustain performance-based payments; 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 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 potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; 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, especially in light of the significant recent earthquake and subsequent tsunami in Japan; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; 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 potential for disruptions or cost overruns in the Company’s global enterprise system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; and risks related to disruptions in the Company’s distribution networks. 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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