Oshkosh Corporation Exceeds M-ATV Delivery Requirements for Fourth Consecutive Month — Press Release

November 10, 2009 by Matthew Potter · Comment
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program 

Oshkosh Corporation Exceeds M-ATV Delivery Requirements for Fourth Consecutive Month

OSHKOSH, Wis. — Nov. 10, 2009 — Oshkosh Corporation (NYSE:OSK) announced today it exceeded the MRAP All Terrain Vehicle (M-ATV) delivery requirements for the fourth consecutive month. Oshkosh easily surpassed the October M-ATV production requirement by producing more than 150 additional M-ATVs over the contractual 385.

The company set record production numbers for both the M-ATV and Logistics Vehicle System Replacement (LVSR) programs at its manufacturing facilities in October, including a record 40 U.S. Marine Corps’ LVSRs. In fact Oshkosh produced a total of more than 1,250 tactical wheeled vehicles, meeting all contractual obligations for the month including the Family of Heavy Tactical Vehicles (FHTV) and Medium Tactical Vehicle Replacements (MTVR). The first M-ATVs and LVSRs have been delivered to Afghanistan in recent months to support ongoing combat and logistics operations.

“We continue to increase our high-quantity M-ATV production levels while meeting our other contractual obligations,” said Josef Matosevic, Oshkosh Corporation senior vice president of global operating systems and vice president operations – Defense. “Our top priority is making sure our customers’ needs are met for our entire line of high-performance vehicles. We achieve this by continuously improving quality levels at our facilities through design innovations, lean manufacturing and assembly process improvements.”

Existing Oshkosh manufacturing facilities have available production capacity for all current and pending military vehicle programs, including M-ATV and the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any surges in production. To date, Oshkosh has received orders for 5,219 M-ATVs from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) as part of orders valued at more than $2.8 billion. The company will ramp production up to 1,000 vehicles per month in December.

The Oshkosh® M-ATV uses the Oshkosh patented TAK-4® independent suspension system that also is featured on more than 10,000 Medium Tactical Vehicle Replacements (MTVR), providing 16 inches of independent wheel travel and a 70 percent off-road profile capability. The TAK-4 system has undergone more than 400,000 miles of government testing and is being retrofitted on more than 2,400 legacy MRAPs for improved off-road mobility. It also is used on the Army’s next-generation Palletized Load System (PLS).

Oshkosh Defense teamed with Plasan North America to provide an advanced armor solution for the M-ATV. Plasan also developed the armor system used on more than 5,000 legacy MRAPs and thousands of Oshkosh MTVR Armored Cabs already in theater.

The Oshkosh heavy-payload LVSR® has an on-road payload capacity of 22.5 tons and an off-road payload capacity of 16.5 tons. It uses the TAK-4 independent suspension system and mechanical rear-steer technology for superior mobility on demanding off-road terrain and unimproved roads. The vehicle also features Oshkosh’s Command Zone™ embedded diagnostics to monitor major vehicle systems, including the engine, transmission and brakes.

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 Corp. 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, log on to www.oshkoshcorporation.com.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

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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 risks related to the required increase in the rate of production for the M-ATV contract and the amount, if any, of additional orders for M-ATVs that the Company may receive; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof, including the outcome of the formal protests of the Family of Medium Tactical Vehicles (FMTV) award to the Company; risks related to reductions in government expenditures and the uncertainty of government contracts; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; and the potential for increased costs relating to compliance with changes in laws and regulations. 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.

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Oshkosh Exceeds M-ATV Delivery Schedule for Third Consecutive Month — Press Release

October 1, 2009 by Matthew Potter · Comment
Filed under: Business Line, Companies, Department of Defense, Events, Oshkosh Truck Corp, Promotions, Services, U.S. Army, U.S. Marine Corps, logistics, production program 

mrapatv twoOshkosh Exceeds M-ATV Delivery Schedule for Third Consecutive Month

OSHKOSH, Wis. — Oct. 1 2009 — Oshkosh Corporation (NYSE:OSK) announced today that for the third consecutive month, it has exceeded its contract delivery requirements for MRAP All Terrain Vehicles (M-ATV). The September M-ATV delivery requirement for 100 vehicles was met on September 22, more than one week earlier than required.

Oshkosh Corporation is responding to an urgent call from the U.S. Armed Services for the accelerated delivery of M-ATVs for operations in Afghanistan. Since receiving the first order on June 30, 2009, Oshkosh has delivered ahead of schedule each month, enabling the MRAP Joint Program Office to fly M-ATVs to Afghanistan earlier than initial estimates. Oshkosh’s manufacturing facilities have available production capacity for all current and potential military vehicle programs, including the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any production surges.

“The M-ATV program was fast-moving from its inception, and we are answering the Warfighter’s need for this advanced vehicle by providing the government with a rapid delivery schedule,” said Charlie Szews, president and chief operating officer of Oshkosh Corporation. “Oshkosh’s robust manufacturing capabilities, proven experience and highly skilled workforce have helped set the company apart as a leading and reliable supplier of the M-ATV, as well as other medium- and heavy-payload tactical wheeled vehicles for the U.S. military.”

Oshkosh uses an advanced integrated assembly line and has simultaneously produced as many as 10 vehicle models with 29 variations. Design innovations, assembly process improvements and lean manufacturing fuel continuous quality improvement at the company’s facilities.

To date, the company has received orders valued at $2.3 billion for 4,296 M-ATVs, including initial spare parts and support services. The U.S. military flew the first M-ATVs to Afghanistan at the end of September.

The Oshkosh® M-ATV uses the advanced Oshkosh TAK-4® independent suspension system for superior mobility, including a 70 percent off-road profile capability and 16 inches of wheel travel. The TAK-4 system, which has undergone more than 400,000 miles of government testing, is featured on more than 10,000 Medium Tactical Vehicle Replacements (MTVR) used by the U.S. Marine Corps and Navy Seabees, and is being retrofitted on more than 2,400 legacy MRAPs for improved mobility in Afghanistan. The system is also used on the Army’s next-generation Palletized Load System (PLS) and the Marine Corps’ Logistics Vehicle System Replacement (LVSR).

Oshkosh Defense teamed with Plasan North America to provide an advanced armor solution for the M-ATV. Plasan also developed the armor system used on more than 5,000 legacy MRAPs and thousands of Oshkosh MTVR Armored Cabs already in theater.

Oshkosh Defense is the leading manufacturer of both medium and heavy tactical wheeled vehicles in the U.S. defense industry. More than 67,000 military-class vehicles have been produced in the company’s manufacturing facilities.

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 Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, BAI™, 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, log on to www.oshkoshcorporation.com.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Photo Courtesy of Oshkosh Corporation

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