Oshkosh Defense to Unveil Upgraded FMTV at AUSA Winter — Press Release

by: Matthew Potter
February 22, 2012

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Oshkosh Defense to Unveil Upgraded FMTV at AUSA Winter

Protection levels and off-road performance increased for soldiers in severe environments

OSHKOSH, Wis. (Feb. 21, 2012) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), is continuing its commitment to further improve protection and mobility for Warfighters on the changing battlefield with new enhancements for the U.S. Army and National Guard’s Family of Medium Tactical Vehicles (FMTV). The result for soldiers is better underbody protection and noticeably improved vehicle performance and ride quality on rough terrain.

Named the FMTV Enhanced Protection & Mobility Demonstrator (EPMD), the prototype vehicle utilizes the Oshkosh TAK-4® independent suspension system and a custom-fitted Oshkosh Underbody Improvement Kit (UIK) for previously unrealized levels of protection and mobility. The FMTV EPMD will be unveiled at the AUSA Winter Symposium & Exposition, Feb. 23-25 in Fort Lauderdale, Fla.

“We’re drawing on two Oshkosh Defense core competencies – survivability and off-road mobility – to give the FMTV platform improved capabilities on the battlefield against evolving threats and severe terrain,” said Mike Ivy, vice president and general manager of Army Programs for Oshkosh Defense. “Oshkosh has had great success delivering a high-quality FMTV fleet for our customer at a reduced cost. These upgrades build on that success and give soldiers a better protected, more mobile family of vehicles.”

The FMTV EPMD uses an Oshkosh-designed UIK to provide protection beyond the platform’s Long-Term Armor Strategy-compliant armor suite. Oshkosh is in the process of delivering more than 8,000 MRAP All-Terrain Vehicle (M-ATV) UIKs, which are protecting Warfighters in Afghanistan today, as well as more than 400 UIKs for the Army’s Heavy Expanded Mobility Tactical Truck (HEMTT) A4. Oshkosh UIKs are designed for light, medium, heavy and MRAP vehicles in the ongoing battle against increasingly dangerous IEDs and roadside bombs.

The Oshkosh TAK-4 system, used on more than 20,000 medium, heavy and MRAP vehicles, delivers several improvements to the FMTV’s current configuration, including:

Increasing the off-road profile capability from 30 percent to 70 percent
Delivering 16 inches of front wheel travel – a 120 percent improvement
Improving ride quality on severe terrain, allowing soldiers to arrive more refreshed for their missions
Increasing the maximum off-road speed by nearly 20 percent

Oshkosh to date has conducted more than 6,000 miles of independent durability testing on the FMTV EPMD’s subsystems to prove their maturity and readiness for the battlefield.

Oshkosh representatives will be available at booth #3324 in the outdoor display area at AUSA Winter to discuss the FMTV enhancements as well as other Oshkosh vehicles and technologies.

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 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.

®, 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 the DoD’s procurement of products and services and funding thereof, including the impact of the DoD’s allocation of certain tires which will restrict and delay certain FHTV sales; 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 uncertainty, lower municipal spending and tight credit markets; 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 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 or shipment delays arising from 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 increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Company’s distribution networks; risks related to actions of activist shareholders; 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.


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