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Oshkosh Defense Delivers 100,000th Military Vehicle — Press Release

Caption: Charlie Szews, Oshkosh Corp. CEO, and John Urias, president of Oshkosh Defense, honor Clarence Jungwirth for his 66 years of service to the company at a celebration marking the delivery of the company’s 100,000th military vehicle, the extremely mobile and protected Oshkosh M-ATV, seen above in Oshkosh, Wis. on Oct. 17.

Oshkosh marks major milestone in mobilizing military forces

OSHKOSH, Wis. (Oct. 17, 2012) — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), and producer of light, medium and heavy tactical and armored Mine-Resistant Ambush Protected (MRAP) vehicles, today celebrated the delivery of its 100,000th military vehicle. Oshkosh employees gathered to commemorate the accomplishment as the Company’s 100,000th vehicle, a MRAP All-Terrain Vehicle (M-ATV), rolled off the manufacturing line.

“The founders of Oshkosh Corporation built the Company’s first vehicle with patented four-wheel-drive technologies more than 95 years ago, so it is only fitting that the 100,000th defense vehicle is an M-ATV with exceptional off-road mobility,” said John Urias, Oshkosh Corporation executive vice president and president of Oshkosh Defense. “This milestone also speaks to our future. Our vehicles are helping military and security organizations around the world by providing new levels of performance, protection and mobility.”

The 100,000th defense vehicle from Oshkosh is part of the first delivery of M-ATVs to the United Arab Emirates. To date, Oshkosh has received orders for more than 9,500 M-ATVs worldwide.

Oshkosh Defense Major Programs Timeline

Milestone                                                                                 Customer                                               Date

Model W-700 Introduced                                                    U.S. Army Corps of Engineers       1939

E-Award – Excellence in Wartime Production           U.S. Army and Navy                        1945

MB-5 ARFF Contract                                                            U.S. Navy                                             1968

M911 HET Contract                                                             U.S. Army                                             1976

HEMTT Production Begins                                                 U.S. Army                                             1982

First LVSR Deliveries                                                           U.S. Marine Corps                               1985

PLS Contract                                                                           U.S. Army                                             1990

MTVR Contract                                                                      U.S. Marine Corps                               1998

Wheeled Tanker Contract                                                   U.K. MoD                                                2003

FMTV & M-ATV Contracts                                                  Joint Services                                       2009

Cargo UGV Project – TerraMax System                         U.S. Marine Corps                               2010-2012

International M-ATV Contract                                         UAE Armed Forces                              2012

In addition to the M-ATV, Oshkosh Defense produces the U.S. Army and Marine Corps’ heavy and medium vehicles fleets and has developed multiple light vehicle offerings. The Company received a contract this summer for the Joint Light Tactical Vehicle (JLTV) program’s Engineering, Manufacturing and Development (EMD) phase. The JLTV aims to replace many of the U.S. military’s aged HMMWVs with a lightweight vehicle that offers greater protection, mobility and transportability. The Oshkosh Light Combat Tactical All-Terrain Vehicle (L-ATV) incorporates the latest proven technologies to deliver unprecedented mobility and ride quality.

Oshkosh has delivered a full range of tactical and armored vehicles to nearly 20 countries – including Canada, Mexico, England, Sweden, Saudi Arabia and the UAE. Proprietary vehicle technologies developed by Oshkosh also help militaries increase mobility, protection and efficiency in current fleets.

To help militaries sustain their fleets and maintain peak readiness levels, Oshkosh Defense offers a full range of Integrated Product Support services globally. Offerings include training, field service, integrated logistics and parts supply support, as well as fleet modernization to keep vehicles on the move throughout their entire life-cycle.

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, especially in the current environment where there are conflicting signs regarding the future global economic outlook; 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; risks that profit on the definitization of contracts with the DoD could differ from the Company’s estimates; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to increase prices to raise margins or offset higher input costs; risks related to the Company’s exit from its ambulance and European mobile medical businesses, including the amounts of related costs and charges; risks related to facilities consolidation and alignment, including the amounts of related costs and charges 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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