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Oshkosh Defense Unveils New Light Vehicle for Unconventional, Recon Missions at Modern Day Marine 2012 — Press Release

by: Matthew Potter
September 24, 2012

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

Oshkosh L-ATV selected for the JLTV EMD phase also on display

OSHKOSH, Wis. (Sept. 24, 2012) — Expanding its portfolio of light military vehicles, Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), is unveiling its new Special Purpose All-Terrain Vehicle (S-ATV) designed for unconventional and reconnaissance missions at Modern Day Marine 2012, Sept. 25-27 in Quantico, Va. Oshkosh will also have its Light Combat Tactical All-Terrain Vehicle (L-ATV), which was selected for the Joint Light Tactical Vehicle (JLTV) Engineering, Manufacturing and Development (EMD) phase, at the show.

“We have developed a broad range of high-performance light vehicles to offer Warfighters next-generation capabilities for future battlefields,” said John Bryant, vice president and general manager of Joint and Marine Corps Programs for Oshkosh Defense. “Our L-ATV and S-ATV platforms, coupled with an array of Oshkosh-developed HMMWV upgrade solutions, demonstrate exciting innovations. The off-road mobility, crew protection and reliability that are hallmarks of our heavy, medium and MRAP platforms have been leveraged in different ways across these light vehicles to meet a range of operational needs.”

Oshkosh specifically designed the S-ATV based on emerging worldwide requirements for forces performing unconventional and reconnaissance missions. The S-ATV utilizes Oshkosh’s battle-proven off-road technologies and expertise to nimbly travel across rugged, remote and urban terrains at high speeds. The vehicle is available in multiple weight and protection configurations.

Delivering the Oshkosh JLTV Solution

Oshkosh received a contract in August to deliver 22 Light Combat Tactical All-Terrain Vehicle (L-ATV) prototypes for the JLTV EMD phase, as well as to support government testing and evaluation of the vehicles. The joint services are expected to replace tens of thousands of HMMWVs with the JLTV.

“The Oshkosh JLTV solution was designed with a purpose – to keep Warfighters safe on future battlefields with unpredictable terrain, tactics, and threats,” said John Bryant, vice president and general manager of Joint and Marine Corps Programs for Oshkosh Defense. “Oshkosh has a 90-year history of delivering high quality military vehicle programs on-time and on-budget, and our JLTV program is no exception. We understand how critical this light, protected, off-road vehicle will be to Warfighters.”

The Oshkosh L-ATV offers an advanced crew protection system that has been extensively tested and is proven to optimize crew survivability. The L-ATV can accept multiple armor configurations, which allows the vehicle to adapt easily to changing operational requirements. The L-ATV also applies the Oshkosh TAK-4i™ intelligent independent-suspension system to provide significantly faster speeds when operating off-road, which can be critical to troops’ safety.

Oshkosh executives will be on hand to discuss the vehicles, technologies and vehicle lifecycle management at booth #2404.

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®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, 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 cyclical nature of the Company’s access equipment, commercial and fire & emergency markets; the expected level and timing of the 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; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to increase prices to offset higher input costs; risks related to facilities consolidation and alignment, including costs and charges thereof and that anticipated cost savings may not be achieved; 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 Company or 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; 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; 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. 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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