Oshkosh Defense Receives $13 Million Delivery Order to Supply HEMTT A4s to Army Reserve — Press Release
Filed under: Companies, Events, Oshkosh Truck Corp, Press Releases
Oshkosh Defense Receives $13 Million Delivery Order to Supply HEMTT A4s to Army Reserve
OSHKOSH, Wis. — Feb. 22, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a delivery order valued at more than $13 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply more than 35 next-generation Heavy Expanded Mobility Tactical Trucks (HEMTT) to the Army Reserve. The variants included in the order include M984A4 wreckers and M1120A4 load handling systems (LHS). Production is expected to begin in September 2010 and be completed in June 2011. The order was issued under the Army’s Family of Heavy Tactical Vehicles (FHTV) III contract.
The Oshkosh® HEMTT’s 13-ton payload and off-road capabilities make this vehicle the backbone of the U.S. Army’s logistics fleet. HEMTT A4 improvements include: a more powerful drivetrain; improved suspension; a fully air-conditioned and armor-ready cab; and other structural changes to make in-the-field installation of add-on armor quicker and easier. The HEMTT A4 is built with maximum common parts across its variants.
Oshkosh has produced more than 70,000 military-class vehicles at its facilities, including more than 30,000 FHTVs. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and other vehicle orders for all Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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 sustaining the required 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 tight credit markets; 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, risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine contracts and the uncertainty of government contracts generally; 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. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
NAVISTAR DEFENSE AWARDED $752 MILLION CONTRACT FOR MAXXPRO DASH MRAP VEHICLES — Press Release
Filed under: Business Line, Companies, Contract Awards, Events, Press Releases, production program
NAVISTAR DEFENSE AWARDED $752 MILLION CONTRACT FOR MAXXPRO DASH MRAP VEHICLES
WARRENVILLE, Ill., (February 16, 2010) Navistar Defense, LLC today was awarded a contract for $752 million to provide 1,050 enhanced International® MaxxPro® Dash Mine Resistant Ambush Protected (MRAP) vehicles. Vehicles under the award from the U.S. Marine Corps Systems Command will include the DXM™ independent suspension solution.
“The threats that our warfighters face continue to change every day and we understand the urgency needed to rapidly engineer and deliver new Dash vehicles to defeat emerging threats,” said Archie Massicotte, president, Navistar Defense. “We are constantly looking at enhancements across our vehicle portfolio to provide warfighters with the most advanced equipment.”
Under the new contract, MaxxPro Dash vehicles will incorporate the DXM™ independent suspension solution provided by Hendrickson Truck Suspension Systems and AxleTech International. This vehicle upgrade further improves the vehicle’s off-road capabilities, which is vital given Afghanistan’s lack of road infrastructure.
“After conducting an extensive trade study, we selected a no-compromises suspension system for our MaxxPro,” said Massicotte. “The design also minimizes the effort needed to integrate the system onto existing vehicles, which will accelerate the delivery of this important modification should the Army be interested in retrofitting our MaxxPro and 7000 Series fleets.”
Since May 2007, Navistar has received orders for a total of 7,494 MaxxPro MRAP vehicles to help combat improvised explosive devices (IEDs) and other threats. In late 2008, the company modified its design for added mobility and produced the MaxxPro Dash MRAP variant. The addition of an independent suspension solution further improves mobility and is one of several capability insertions that will be incorporated into the next 1,050 MaxxPro Dash units. Navistar also has provided more than 8,100 International® 7000 Series vehicles to the Afghan National Army and Afghan National Police.
Navistar will conduct work at its Garland, Texas, and West Point, Miss., assembly plants. Deliveries will begin in April and will be completed by the summer of 2010. Parts are not included in the contract.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
Oshkosh Defense Awarded $5 Million FHTV Delivery Order — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded $5 Million FHTV Delivery Order
OSHKOSH, Wis. — Feb. 11, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a delivery order valued at more than $5 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to produce more than 15 next-generation Heavy Expanded Mobility Tactical Trucks (HEMTT). The order was issued under the Army’s Family of Heavy Tactical Vehicles (FHTV) III contract.
The variants included in the order are M985A4 guided missile transporters (GMT), as well as M977A4 electrical power plant (EPP) and large repair parts transporter (LRPT) cargo trucks. Production is expected to begin in July 2010 and be completed in September 2010. The GMT variant is designed to deliver and load four guided missiles to the launcher using an integrated crane. The EPP cargo truck includes a chassis-mounted electrical power plant, and the LRPT cargo truck is used to store or transport heavy repair parts.
The Oshkosh® HEMTT’s 13-ton payload and off-road capabilities make this vehicle the backbone of the U.S. Army’s logistics fleet. HEMTT A4 improvements include: a more powerful drivetrain; improved suspension; a fully air-conditioned and armor-ready cab; and other structural changes to make in-the-field installation of add-on armor quicker and easier. The HEMTT A4 is built with maximum common parts across its variants.
Oshkosh has produced more than 70,000 military-class vehicles at its facilities, including more than 30,000 FHTVs. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and other vehicle orders for all Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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.
Oshkosh Defense Receives $158 Million Order for U.S. Marine Corps Heavy Fleet — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Receives $158 Million Order for U.S. Marine Corps Heavy Fleet
OSHKOSH, Wis. — Feb. 10, 2010 — Oshkosh Corporation (NYSE:OSK) today announced that its Defense Division received a delivery order to an existing contract valued at more than $158 million from the U.S. Marine Corps Systems Command (MARCORSYSCOM) for more than 400 Logistics Vehicle System Replacements (LVSR). The order brings the total number of LVSRs under contract to nearly 1,300. With this latest order, LVSR production and delivery is extended into July 2011. More than 385 MKR18 cargo variants will be produced under the order. The remaining variants will be MKR16 tractors.
“The Oshkosh® LVSR is among the world’s most advanced logistics platforms and offers the U.S. Marine Corps a technologically sophisticated, heavy-payload vehicle to answer the call in even the most arduous conditions,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “The vehicle’s off-road capabilities only make it more versatile when transporting heavy equipment, fuel and other supplies to the front line.”
The Oshkosh LVSR vehicle is equipped with the Oshkosh Command Zone™ embedded diagnostics system and the company’s patented TAK-4® independent suspension system for superior off-road mobility in the most severe environments. The LVSR comes in three variants – cargo, wrecker and fifth-wheel – and features an on-road payload capacity of 22.5 tons and an off-road payload capacity of 16.5 tons. The first LVSRs started arriving in Afghanistan in September 2009.
Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this order and vehicles for all other Marine Corps and Defense programs, including the MRAP All-Terrain Vehicle (M-ATV) and the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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.
# # #
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.
Photo courtesy of Oshkosh Corporation.
Oshkosh Defense Awarded $21 Million Delivery Order for Recapitalized HEMTT A4s — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded $21 Million Delivery Order for Recapitalized HEMTT A4s
OSHKOSH, Wis. — Jan. 28, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a delivery order valued at more than $21 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to produce more than 60 recapitalized next-generation Heavy Expanded Mobility Tactical Trucks (HEMTT) A4. The order, which also includes the delivery of components and engines, is for the M984 HEMTT A4 wrecker variant. Production is expected to begin in January 2011 and be completed in April 2011. The order was issued under the Army’s Family of Heavy Tactical Vehicles (FHTV) III contract.
Through the Oshkosh Defense remanufacturing and recapitalization services, heavily used vehicles are returned to Oshkosh, stripped to their frame rails, completely rebuilt to like-new condition and upgraded to the new A4 configuration. Recapitalized vehicles are considered to have zero miles and zero hours, and offer a significant cost savings compared to new vehicles. These vehicles are put through the same road tests, performance tests and inspection procedures as new vehicles before being delivered with the same bumper-to-bumper warranty provided for new HEMTTs.
The Oshkosh® HEMTT’s 13-ton payload and off-road capabilities make this vehicle the backbone of the U.S. Army’s logistics fleet. HEMTT A4 improvements include: a more powerful drivetrain; improved suspension; a fully air-conditioned and armor-ready cab; and other structural changes to make in-the-field installation of add-on armor quicker and easier. The HEMTT A4 is built with maximum common parts across its variants.
Oshkosh has produced more than 70,000 military-class vehicles at its facilities, including more than 30,000 FHTVs. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and other vehicle orders for all Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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.
Oshkosh Defense Receives First HEMTT A4 LET Delivery Order — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, production program
Oshkosh Defense Receives First HEMTT A4 LET Delivery Order
OSHKOSH, Wis. — Dec. 18, 2009 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a $56 million delivery order from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply the Army with the first Light Equipment Transporters (LET), a variant of the next-generation Heavy Expanded Mobility Tactical Truck (HEMTT A4).
The delivery order calls for Oshkosh Defense to produce more than 200 M983 HEMTT A4 LETs. Production and delivery is expected to be completed in September 2010. The award brings the U.S. Army’s total Family of Heavy Tactical Vehicles (FHTV) contract to more than $3.2 billion. The FHTVIII contract was first awarded at the end of October 2008.
“The Oshkosh HEMTT A4 LET expands the capabilities of the U.S. Army’s logistics fleet with the transportation of various light equipment in challenging environments and as part of the Stryker Recovery System,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “The vehicle complements the other high-performance, heavy-payload HEMTT variants to keep operations on the move.”
The Oshkosh® HEMTT 13-ton payload and off-road capabilities make this vehicle the backbone of the U.S. Army’s logistics fleet. Improvements to the HEMTT A4 include: a more powerful drivetrain; improved suspension; a fully air-conditioned and armor-ready cab; and other structural changes to make installation of add-on armor in the field quicker and easier. The HEMTT A4 is built with maximum common parts across its variants.
Oshkosh has produced more than 70,000 military-class vehicles at its facilities, including more than 30,000 FHTVs. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and other vehicle orders for all Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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.
Oshkosh Defense to Deliver 102 HEMTT A4s to the National Guard — Press Release
Filed under: Business Line, Companies, Contract Awards, Department of Defense, Events, Oshkosh Truck Corp, Services, U.S. Army, logistics, production program
Oshkosh Defense to Deliver 102 HEMTT A4s to the National Guard
OSHKOSH, Wis. — Oct. 21, 2009 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has received a contract modification valued at $35 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for 102 next-generation Heavy Expanded Mobility Tactical Trucks (HEMTT A4). The trucks will be delivered by March 2010.
As part of the U.S. Army’s Family of Heavy Tactical Vehicles (FHTV) contract, two variants of the HEMTT A4s will be delivered to the National Guard. The 13-ton payload and off-road capabilities of the Oshkosh® HEMTT M985A4 cargo truck and M1120A4 load handling system enhance the capabilities of National Guard units for disaster relief at home or in-theater operations. The vehicle also features a more powerful drivetrain, improved suspension and a fully air-conditioned and armor-ready cab.
Oshkosh has produced more than 67,000 military-class vehicles at its facilities, including more than 30,000 FHTVs. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order as well as vehicles for other Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV).
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.
Photo courtesy of Oshkosh Defense
# # #
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 consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; 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; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the outcome of the formal protests of the FMTV award to the Company: the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; 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 in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectibility of receivables during a recession, particularly for those businesses with exposure to construction markets; 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 duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Oshkosh Defense Awarded $801 Million Delivery Order for New and Recapitalized HEMTTs, PLS Trailers –Press Release
Filed under: Business Line, Companies, Contract Awards, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded $801 Million Delivery Order for New and Recapitalized HEMTTs, PLS Trailers
OSHKOSH, Wis. — Sept. 29, 2009 — Oshkosh Corporation (NYSE:OSK), announced today that its Defense division has received a delivery order valued at $801 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for more than 2,450 new and recapitalized Heavy Expanded Mobility Tactical Trucks (HEMTT) and Palletized Load System Trailers (PLST). Work is expected to be completed by May 2011.
The delivery order calls for Oshkosh Defense to produce more than 1,190 new next-generation HEMTT A4s, more than 180 new HEMTT A2s and more than 80 PLSTs for the U.S. Army. Oshkosh also will deliver more than 1,020 recapitalized HEMTT A4s.
“As an industry-leading designer and manufacturer of tactical wheeled vehicles and the Army’s Family of Heavy Tactical Vehicles (FHTV), Oshkosh continues to deliver high-performance vehicles and respond to our customer’s needs in a timely manner,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Our recapitalization services complement our robust manufacturing capabilities and ultimately provide like-new vehicles to our soldiers at a lower cost to the taxpayer.”
Oshkosh has produced more than 67,000 military-class vehicles at its facilities, including more than 30,000 FHTV vehicles. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order as well as vehicles for other Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV).
The Oshkosh® HEMTT’s 13-ton payload and off-road capabilities make it the backbone for the U.S. Army’s logistics fleet. Since its introduction in 1985, the HEMTT has helped keep the Army on the move during major conflicts such as Operations Desert Storm and Iraqi Freedom. Improvements to create the HEMTT A4 include: a fully air-conditioned and armor-ready cab; more powerful drivetrain; improved suspension; and other structural changes to make installation of add-on armor in the field quicker and easier.
Built to load and unload a variety of cargo, the PLS is designed to meet the U.S. Army’s distribution and resupply needs in even the most challenging military missions. The PLS truck and trailer form a self-contained system that reduces the need for forklifts or other material-handling equipment. Additionally, they both carry a demountable cargo bed, also known as a flatrack that features a 16.5-ton payload capacity.
Through Oshkosh’s remanufacturing and recapitalization services, heavily used vehicles are returned to Oshkosh, stripped to their frame rails, completely rebuilt to like-new condition and upgraded to the new A4 configuration. Recapitalized vehicles are considered to have zero miles and zero hours, at a significantly reduced cost compared to new vehicles. These vehicles are put through the same road tests, performance tests and inspection procedures as new vehicles before being delivered with the same bumper-to-bumper warranty provided for new HEMTTs.
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.
Polaris Defense Enters Low Speed Vehicle Market
Filed under: Syndicated Industry News
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