Oshkosh Corporation Receives $640 Million Award to Supply 1,460 Additional M-ATVs — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, production program
Oshkosh Corporation Receives $640 Million Award to Supply 1,460 Additional M-ATVs
OSHKOSH, Wis. — Feb. 23, 2010 — Oshkosh Corporation (NYSE:OSK) announced today it has received an additional $640 million award from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to deliver 1,460 MRAP All Terrain Vehicles (M-ATV). To date, Oshkosh has received awards valued at more than $4.74 billion for 8,079 M-ATVs, as well as spare parts kits and aftermarket in-theater support.
“Our Armed Forces have Oshkosh’s full assurance that these highly mobile, life protecting vehicles will continue to be a top priority because we understand the urgency of the situation,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “From day one, Oshkosh Corporation and our employees have been committed to meet or exceed the M-ATV delivery requirements, while simultaneously producing our other quality advanced tactical wheeled vehicles and meeting all other contractual obligations.”
The Oshkosh® M-ATV is the newest MRAP model, developed in response to an urgent need in Afghanistan. The vehicle is specifically designed to operate on the country’s harsh mountainous terrain and unimproved roads while providing protection levels equal to or better than those of legacy MRAPs. Able to overcome steep, rocky and rugged terrain, the vehicle uses the Oshkosh-patented TAK-4® independent suspension system for superior cross-country mobility, including a 70 percent off-road profile capability and 16 inches of independent wheel travel. Oshkosh has received orders to supply more than 2,400 TAK-4 systems for legacy MRAP upgrades for improved off-road mobility in Afghanistan.
The company has received orders to provide replacement parts and spare-parts kits concurrent with M-ATV production, as well as to provide field service representative (FSR) support in Afghanistan. With global operations that include service, repair and parts distribution, Oshkosh is able to support the M-ATV program’s full life-cycle sustainment as needed.
Existing Oshkosh facilities have the capacity, highly skilled workforce and proven manufacturing capability to deliver this M-ATV order and vehicles for all other Defense programs, including the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as the capability to meet 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 $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.
# # #
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.
Oshkosh Defense Awarded $24 Million for M-ATV Upgrade Kits — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded $24 Million for M-ATV Upgrade Kits
OSHKOSH, Wis. — Feb. 18, 2010 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), announced today it has received two awards valued at more than $24 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for MRAP All-Terrain Vehicle (M-ATV) kits for the support of communication equipment and electrical system upgrades. The combined undefinitized orders consist of more than 2,090 upgrade kits for the vehicles.
The kits will support the installation of Command, Control, Communication, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) suites composed of electronic equipment such as communications hardware, jammer systems, tracking technology and driver vision enhancement. The kits also will support the addition of “silent watch” capability, which allows the M-ATV to operate C4ISR equipment for extended periods of time with reduced noise and heat signatures from the vehicle.
“The C4ISR technology and silent watch capability that these kits support will further enhance the M-ATV’s effectiveness in combat operations in Afghanistan,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “Our advanced manufacturing capabilities, highly skilled workforce and available capacity ensure these upgrades can be completed without impacting our continued rapid delivery of any of our military vehicles under contract.”
Since January 2010, Oshkosh has been incorporating the M-ATV upgrades into the production process at both its M-ATV production facilities, Oshkosh and the Space and Naval Warfare Systems Command will install the upgrade kits on vehicles already built.
Oshkosh has exceeded the accelerated M-ATV delivery schedule for seven consecutive months. To date, the aggregate amount of awards Oshkosh has received for 6,619 M-ATVs, upgrade kits, spare parts kits and aftermarket support is valued at more than $4 billion. Existing Oshkosh manufacturing facilities have available production capacity for these M-ATV orders and all other Defense programs, including the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
The Oshkosh® M-ATV uses the Oshkosh-patented TAK-4® independent suspension system for superior mobility in harsh environments, including 16 inches of independent wheel travel and a 70 percent off-road profile capability. The TAK-4 system has undergone more than 500,000 miles of government testing and is being retrofitted on more than 2,400 legacy MRAPs for improved mobility in Afghanistan. The TAK-4 system is featured on more than 10,000 Medium Tactical Vehicle Replacements (MTVR), used by the U.S. Marine Corps and Navy Seabees, as well as on the Army’s next-generation Palletized Load System (PLS) and the Marine Corps’ Logistics Vehicle System Replacement (LVSR).
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 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.
U.S. Army AFFIRMS FMTV Contract AWARD to Oshkosh Corporation — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
U.S. Army AFFIRMS FMTV Contract AWARD to Oshkosh Corporation
OSHKOSH, Wis. — Feb. 12, 2010 — Oshkosh Corporation (NYSE:OSK) today announced the U.S. Army has affirmed the contract award to the Company, originally received on Aug. 26, 2009, to produce the Family of Medium Tactical Vehicles (FMTV).
The bids of all three competitors for the FMTV program were re-evaluated by the U.S. Army in response to recommendations made by the Government Accountability Office (GAO) following a review of competitors’ protests of the original contract award to the Company. The Army undertook an exhaustive review during this FMTV bidding process and applied fairness and rigor to its decision. Upon completion of a thorough, in-depth re-evaluation, the Army determined the contract would remain with Oshkosh. Additionally, the Army canceled the September 4, 2009, stop-work order it had issued pursuant to the GAO’s protest procedures. The Oshkosh contract allows the Army and U.S. taxpayers to begin realizing significant cost savings for the FMTV program.
“We are very pleased the Army affirmed its original decision that Oshkosh Corporation’s FMTV bid clearly represents the best overall value for the Army, the taxpayers and the Warfighter,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Oshkosh Corporation, our employees and our suppliers stand ready to serve our customer, and we are delighted that the Army has yet again concluded that Oshkosh was the right choice. Our focus has always been on the Warfighter and making sure we deliver high-quality, high-performing vehicles on time.”
The FMTV rebuy program is a five-year, firm fixed-price requirements contract for the production of up to 23,000 vehicles and trailers, as well as support services and engineering. Oshkosh received the contract from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) with an initial delivery order valued at $280.9 million for the production and delivery of 2,568 trucks and trailers.
The FMTV is a series of vehicles consisting of up to 23 variants and 17 different models, ranging from 2.5-ton to 5-ton payloads. Oshkosh already produces the Army’s Family of Heavy Tactical Vehicles (FHTV) and works with nearly every one of the FMTV current component suppliers across the country as integral partners in other military programs.
Oshkosh is the only current manufacturer of both medium and heavy tactical wheeled vehicles in the U.S. defense industry, having produced more than 70,000 military-class vehicles in its manufacturing facilities. Oshkosh’s manufacturing facilities have ample production capacity for all current and pending military vehicle programs, including the FMTV and the MRAP All Terrain Vehicle (M-ATV), as well as any surges in production. The company’s advanced and integrated assembly line facilities allow for the simultaneous production of several different vehicle models and variations. Oshkosh Corporation’s proven production capabilities were recently recognized by the National Center for Advanced Technologies (NCAT), which awarded Oshkosh with a 2009 Defense Manufacturing Excellence Award for its M-ATV launch team, which has exceeded delivery requirements for seven consecutive months.
Oshkosh Defense Receives $84 Million Award for M-ATV Armor Kits — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Receives $84 Million Award for M-ATV Armor Kits
OSHKOSH, Wis. — Feb. 8, 2010 — Oshkosh Corporation (NYSE:OSK) announced today that its Defense division received an award valued at more than $84 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply more than 625 add-on armor kits for the MRAP All Terrain Vehicle (M-ATV).
Under the delivery order, Oshkosh will provide explosively formed penetrator (EFP) protection kits for the M-ATV. Delivery of the kits is expected to begin in April 2010 and be completed by the end of August 2010. The Oshkosh-supplied kits will include EFP armor, base door armor and a door-assist mechanism. To date, Oshkosh has received awards valued at more than $4 billion to deliver 6,619 M-ATVs, as well as spare parts kits and aftermarket in-theater support.
The advanced armor system solution for the base Oshkosh M-ATV, prior to installation of EFP kits, has been battle-tested on more than 5,000 legacy MRAPs and thousands of Oshkosh® Medium Tactical Vehicle Replacement (MTVR) Armored Cabs already in theater. Incorporation of the Oshkosh-patented TAK-4® independent suspension system allows the M-ATV to accept add-on armor while maintaining its agile maneuverability and a full payload capacity of up to 4,000 pounds.
In addition to exceptional survivability, the M-ATV delivers superior off-road mobility for Afghanistan’s harsh mountainous terrain and unimproved roads. The TAK-4 system, which has undergone more than 500,000 miles of government testing, gives the vehicle a 70 percent off-road profile capability and 16 inches of independent wheel travel to overcome obstacles and rugged environments.
Existing Oshkosh facilities have the capacity, highly skilled workforce and proven manufacturing capability to deliver this M-ATV order and all other Defense program orders, including 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.
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 Corporation Receives Orders Valued at $325 Million for M-ATV Parts, Repair Kits — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Corporation Receives Orders Valued at $325 Million for M-ATV Parts, Repair Kits
OSHKOSH, Wis. — Jan. 25, 2010 — Oshkosh Corporation (NYSE:OSK) today announced its Defense division received two delivery orders valued at more than $325 million from the U.S. Army Tank- automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply spare parts and repair kits for the MRAP All-Terrain Vehicle (M-ATV).
Timing for the delivery orders is expected to begin in August 2010 and be completed by the end of January 2011. To date, Oshkosh has received awards valued at more than $3.9 billion to deliver 6,619 M-ATVs, as well as spare kits and aftermarket in-theater support.
“These M-ATV spare parts and repair kits are being produced to ensure they are available to our Armed Forces as operations require,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “We have a continued commitment to our Warfighters to keep a robust aftermarket parts support program running parallel to the needs in the field.”
Oshkosh Defense provides the complete spectrum of service and support for the M-ATV fleet in the Afghan theater. The company already has field service representatives (FSR) to support the M-ATV program in-theater. Building on its experience from Operation Iraqi Freedom, Oshkosh FSRs can operate service facilities on any of the forward operating bases that might require training and more support than internal assets can provide.
Existing Oshkosh manufacturing facilities have available production manufacturing capability to deliver these M-ATV orders and vehicles for all other Defense programs, including the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any surges in production. The company has exceeded the accelerated vehicle delivery schedule every month since being awarded the M-ATV contract on June 30, 2009.
Using the Oshkosh-patented TAK-4® independent suspension system, the M-ATV features a 70-percent off-road profile capability and 16 inches of independent wheel travel to deliver the superior off-road mobility that is needed for Afghanistan’s mountainous terrain and unimproved roads. The TAK-4 system is being retrofitted on more than 2,400 legacy MRAPs for improved mobility in Afghanistan and has undergone more than 500,000 miles of government testing.
Oshkosh 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 Medium Tactical Vehicle Replacement (MTVR) Armored Cabs already in theater.
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 $290 Million Delivery Order for the U.S. Army Family of Heavy Tactical Vehicles — Press Release
Oshkosh Defense Receives $290 Million Delivery Order for the U.S. Army Family of Heavy Tactical Vehicles
OSHKOSH, Wis. – January 5, 2010 – Oshkosh Corporation (NYSE: OSK) announced that its Defense division has received a delivery order valued at more than $290 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to deliver more than 725 next-generation Palletized Load Systems (PLS) A1. The order was issued under the U.S. Army’s existing Family of Heavy Tactical Vehicles (FHTV) contract. Production will begin in April 2010 and be completed in September 2011.
“The modernized PLS A1 delivers superior performance and protection capabilities to help deliver supplies and equipment in some of the U.S. Army’s most demanding operations,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “The PLS truck and trailer combination can load and unload a variety of heavy-payload cargo, which helps eliminate the need for material-handling equipment and results in leaner, more efficient logistics units.”
The PLS A1 is the next generation of the PLS, which Oshkosh has manufactured for the U.S. Army’s distribution and resupply needs for its most challenging military missions. The vehicle features a Long Term Armor Strategy (LTAS)-compliant cab and a 600-hp engine. It also uses the Oshkosh-patented TAK-4® independent front suspension for greater off-road mobility. Additionally, the truck and trailer carry a demountable cargo bed, also known as a flatrack, which features a 16.5-ton payload capacity.
Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and vehicles for other 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 Awarded $63 Million Delivery Order for PLS Trailers — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded $63 Million Delivery Order for PLS Trailers
OSHKOSH, Wis. — Dec. 16, 2009 — Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has received an order valued at more than $63 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply more than 1,150 Palletized Load System (PLS) trailers. Production of these trailers is expected to be completed in June 2011. The order was issued under the U.S. Army’s Family of Heavy Tactical Vehicles (FHTV) contract.
Built to load and unload a variety of cargo, the Oshkosh® 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.
Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order and vehicles for all other 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 Corporation Awarded Additional $175 Million Order to Supply 400 M-ATVs — Press Release
Filed under: Business Line, Companies, Contract Awards, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Corporation Awarded Additional $175 Million Order to Supply 400 M-ATVs
OSHKOSH, Wis. — Dec. 10, 2009 — Oshkosh Corporation (NYSE:OSK) announced today it has received an additional $175 million order from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to deliver 400 MRAP All Terrain Vehicles (M-ATV). To date, Oshkosh has received six awards valued at $3.3 billion to deliver a total of 6,619 M-ATVs.
Oshkosh continues to exceed the accelerated delivery schedule with unprecedented production efforts at its manufacturing facilities. The company has ramped up production to achieve 1,000 vehicles per month in December and this new award will extend production into May 2010.
“We are honored to build these M-ATVs that will help save Warfighters’ lives in Afghanistan. Our employees understand the importance of this program. There is an unfaltering commitment and tremendous persistence at Oshkosh to answer our customer’s needs,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “With world-class manufacturing capabilities, available capacity and a highly skilled workforce, we continue to be prepared to meet the needs of the U.S. Armed Forces for the M-ATV and other programs, however large the order or complex the vehicle.”
The Oshkosh® M-ATV achieves superior off-road mobility through the incorporation of the Oshkosh-patented TAK-4® independent suspension system, which has undergone more than 500,000 miles of government testing and is used on more than 10,000 Medium Tactical Vehicle Replacements (MTVR). The TAK-4 system provides 16 inches of independent wheel travel and a 70 percent off-road profile capability. Oshkosh also has received orders to supply more than 2,400 TAK-4 systems for legacy MRAP upgrades for improved off-road mobility in Afghanistan.
The Oshkosh M-ATV launch team, which has exceeded M-ATV delivery requirements for five consecutive months, was a recipient of 2009 Defense Manufacturing Excellence Awards from the National Center for Advanced Technologies.
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 Medium Tactical Vehicle Replacement MTVR Armored Cabs already in theater.
Existing Oshkosh Defense manufacturing facilities have production capacity for all current and pending military vehicle programs, including the 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.
Oshkosh Corporation Commemorates Handoff of 1,000th M-ATV to U.S. Armed Forces — Press Release
Filed under: Business Line, Companies, Events, Oshkosh Truck Corp, Press Releases, production program
Oshkosh Corporation Commemorates Handoff of 1,000th M-ATV to U.S. Armed Forces
OSHKOSH, Wis. — Dec. 1, 2009 — Oshkosh Corporation (NYSE:OSK) marked the handoff of the 1,000th MRAP All Terrain Vehicle (M-ATV) to the U.S. Armed Forces on Nov. 30 at a ceremony with military leadership at the company’s facilities in Oshkosh, Wis.
Brig. Gen. Michael Brogan, commander of the Marine Corps Systems Command, and Lt. Col. Coll Haddon, M-ATV product manager for the MRAP Joint Program Office, were the keynote speakers at the event. Having exceeded the government’s delivery schedule for five consecutive months, Oshkosh is ramping up production to 1,000 vehicles per month in December and continuing at that level through April 2010.
“We understood the urgency of the M-ATV program to save American lives and leaned forward in advance of receiving the contract to build vehicles and prepare our operations for this high-quantity production,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Our workforce has embraced this important mission and made countless personal sacrifices to produce these vehicles quickly to protect those that are sacrificing for our safety. They will continue to deliver these life-saving vehicles along with replacement parts and field support, as long as necessary.”
Since being awarded the production contract on June 30, 2009, Oshkosh has received four additional awards from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply a total of 6,219 M-ATVs. Oshkosh also has received orders for spare kits and to send its factory-trained field service representatives (FSR) to Afghanistan to provide training and maintenance support for the vehicles. The aggregate amount of the five awards is valued at $3.2 billion.
The M-ATV is the U.S. military’s newest MRAP model, combining the protection levels of legacy MRAPs with improved mobility and durability to handle Afghanistan’s mountainous cross-country terrain and unimproved roads. The vehicle uses the Oshkosh-patented TAK-4® independent suspension system, which has undergone more than 500,000 miles of government testing, to achieve a 70-percent off-road profile capability and 16 inches of independent wheel travel. The system also is used on the Marine Corps’ Medium Tactical Vehicle Replacement (MTVR) and Logistics Vehicle System Replacement (LVSR), as well as the Army’s Palletized Load System (PLS A1).
Existing Oshkosh Defense manufacturing facilities have available production capacity for all current and pending military vehicle programs, including the M-ATV and the U.S. Army’s Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.
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.
Photo Caption: Brig. Gen. Michael Brogan, commander of the Marine Corps Systems Command, is joined by Andy Hove, Oshkosh Corporation executive vice president and president, Defense, left, and Gordon Kranz, executive director of engineering and analysis for the Defense Contract Management Agency, as he signs a ceremonial DD250 to commemorate the handoff of the 1,000th M-ATV to the U.S. Armed Forces at a ceremony on Nov. 30 at the company’s facilities in Oshkosh, Wis.
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 Corporation Exceeds M-ATV Delivery Requirements for Fourth Consecutive Month — Press Release
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.
# # #
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.
Oshkosh Corporation Awarded Contracts to Support M-ATVs in Afghanistan — Press Release
Filed under: Business Line, Companies, Contract Awards, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Corporation Awarded Contracts to Support M-ATVs in Afghanistan
OSHKOSH, Wis. — Oct. 27 2009 — Oshkosh Corporation (NYSE:OSK), announced today that through its Defense division, it has received two contracts valued at more than $28 million for spare parts and support of its MRAP All Terrain Vehicles (M-ATV) in Afghanistan. The contracts include a $16 million order from the U.S. Defense Logistics Agency (DLA) for spare parts and a $12 million order for aftermarket support from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC).
“Oshkosh Corporation’s broad range of offerings, including our parts supply network and fully trained field service team, will provide our Armed Forces with an unparalleled level of support,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Our in theater M-ATV service and support will help ensure these highly mobile vehicles operate at full capability in very challenging conditions.”
Under the contract, Oshkosh Defense will provide M-ATV spare parts to the DLA to be used as in the field replacements after the parts delivered with the vehicles have been consumed. These parts will ship without delay as vehicles arrive to maintain optimal readiness rates.
Additionally, Oshkosh field service representatives (FSR) will support the M-ATV program in-theater through September 2010. Oshkosh Defense provides the complete spectrum of service and support to the M-ATV fleet in the Afghan theater. Building on its experience from Operation Iraqi Freedom, Oshkosh FSRs can operate service facilities on any of the forward operating bases that might require more support than internal assets can provide.
Oshkosh will complete production of the current M-ATV contract, valued at more than $2.7 billion, for 5,219 vehicles in March 2010. The company has delivered ahead of schedule each month since the contract award on June 30, 2009, and expects to ramp production up to 1,000 vehicles per month in December. The first Oshkosh M-ATVs were delivered to Afghanistan on Oct. 1, 2009, just three months after Oshkosh was awarded the M-ATV contract.
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 Armored Cab MTVRs already in theater.
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 Awarded Additional 923 M-ATVs Valued at $408.5 Million — Press Release
Filed under: Business Line, Companies, Contract Additions, Contract Awards, Events, Oshkosh Truck Corp, Press Releases, Services, U.S. Army, logistics, production program
Oshkosh Defense Awarded Additional 923 M-ATVs Valued at $408.5 Million
OSHKOSH, Wis. — Oct. 12, 2009 — Oshkosh Corporation (NYSE:OSK) announced today it has received an additional $408.5 million award from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for 923 MRAP All Terrain Vehicles (M-ATV) to be delivered to the U.S. Armed Forces through March 2010.
This is the fourth award under the M-ATV delivery order first awarded in June 2009, and brings the total number of vehicles Oshkosh will supply to 5,219. The aggregate amount of the four awards is valued at $2.76 billion.
“Our customer is preparing to field the first Oshkosh M-ATVs for use by warfighters in the Afghanistan theater of operations,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “As these vehicles begin making their way onto the battlefield to ensure our men and women are well protected and their missions remain on the move in even the harshest environments, we will continue to make the vehicle’s high-quantity production our top priority and provide any additional program support as needed.”
Answering an urgent need request for soldiers and Marines serving in Afghanistan, Oshkosh continues to deliver vehicles ahead of the government’s accelerated schedule and met September’s delivery requirement on Sept. 22. The company will ramp production up to 1,000 vehicles per month in December and continue at that level through at least March 2010. Existing Oshkosh Defense 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.
The Oshkosh® M-ATV’s superior mobility, which includes a 70 percent off-road profile capability, is achieved through the Oshkosh TAK-4® independent suspension system. The system 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 TAK-4 system, which has undergone more than 400,000 miles of government testing, also is 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.
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 Award to Integrate Camera Systems on M-ATVs — Press Release
Filed under: Business Line, Companies, Contract Awards, Events, Oshkosh Truck Corp, Services, U.S. Army, logistics, production program
Oshkosh Defense Receives Award to Integrate Camera Systems on M-ATVs
OSHKOSH, Wis. — Oct. 2, 2009 — Oshkosh Corporation (NYSE:OSK) announced today its Defense Segment received a $33 million award from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to supply a rear-mounted camera system on more than 2,200 MRAP All Terrain Vehicles (M-ATV) to provide improved situational awareness for vehicle occupants.
“We are pleased to work with our customer to provide this vehicle upgrade for the benefit of the U.S. Armed Forces in Afghanistan,” said Ken Juergens, M-ATV program director for Oshkosh Defense. “The advanced M-ATV provides exceptional mobility and protection capabilities, and this technology will help the vehicle’s crew better survey their surroundings as they navigate Afghanistan’s harsh environments.”
The camera system, which integrates with existing vehicle video displays, provides a 40-degree vertical and 54-degree horizontal field of view. The system uses an infrared camera core in an LED-equipped tailgate assembly and provides visibility through dust, obscurants and incremental weather in day and night operations.
Oshkosh is a longtime, proven manufacturer of next-generation vehicles and can incorporate advanced technologies into each vehicle platform it manufactures. The company has delivered its M-ATV requirements ahead of schedule every month and will ramp up production to 1,000 vehicles per month in December. The company’s highly skilled workforce uses an advanced integrated assembly line and has simultaneously produced as many as 10 vehicle models with 29 variations.
To date, Oshkosh has received awards totaling $2.3 billion for 4,296 M-ATVs. The vehicle uses the Oshkosh TAK-4® independent suspension system to provide superior off-road mobility, which includes a 70 percent off-road profile capability and 16 inches of independent wheel travel. The TAK-4 system has undergone more than 400,000 miles of government testing and is used on more than 10,000 Medium Tactical Vehicle Replacements (MTVR), as well as the Marine Corps’ Logistics Vehicle System Replacement (LVSR) and the Army’s Palletized Load System (PLS A1).
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.
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.
# # #
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.
Oshkosh Defense Awarded Additional 352 M-ATVs worth $189 Million — Press Release
Filed under: Business Line, Companies, Contract Additions, Contract Awards, Events, Oshkosh Truck Corp, Press Releases, logistics, production program
Oshkosh Defense Awarded Additional 352 M-ATVs worth $189 Million
OSHKOSH, Wis. — Sept. 14 2009 — Oshkosh Corporation (NYSE:OSK) announced today it has received an additional $189 million award from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to deliver an additional 352 MRAP All Terrain Vehicles (M-ATV) to the U.S. Armed Forces by March 2010. The award also includes aftermarket parts packages.
This is the third award under the delivery order first awarded in June 2009. To date, TACOM LCMC has ordered a total of 4,296 M-ATVs from Oshkosh. The aggregate amount of the three awards is valued at $2.3 billion.
“Oshkosh is committed to meeting our customer’s urgent need for this highly mobile vehicle and helping our Armed Forces serving in Afghanistan to better operate on the country’s challenging terrain,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “We have delivered more than 100 M-ATVs through August, meeting our planned delivery requirements, and we continue to increase vehicle output at our manufacturing facilities to remain on schedule and meet our customer’s requirements.”
Oshkosh expects to meet the government’s accelerated delivery schedule without impacting other programs, with production ramping up to 1,000 vehicles a month in December, and continuing at that level through the end of March 2010. The company is leveraging its
pre-contract M-ATV production and engineering efforts, robust manufacturing capabilities, a highly skilled workforce, and decades of experience in producing more than 67,000 military-class vehicles.
The Oshkosh® M-ATV’s superior mobility, which includes a 70 percent off-road profile capability, is achieved through the incorporation of the Oshkosh TAK-4® independent suspension system. The system 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 2,000 legacy MRAPs for improved mobility in Afghanistan. The TAK-4 system, which has undergone more than 400,000 miles of government testing, also is 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 Armored Cab MTVRs already in theater.
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.
# # #
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.
Photo courtesy of Oshkosh Corporation.
Oshkosh Defense Selected to Produce U.S. Army’s FMTV, Receives First Delivery Order for $280.9 Million
Filed under: Syndicated Industry News
Oshkosh Defense Awarded Additional 352 M-ATVs worth $189 Million
Filed under: Syndicated Industry News
Force Protection Receives $52.8 Million Order for 48 Buffalo Vehicles
Filed under: Syndicated Industry News
Oshkosh Defense Awarded $801 Million Delivery Order for New and Recapitalized HEMTTs, PLS Trailers
Filed under: Syndicated Industry News
Oshkosh Defense Receives Award to Integrate Camera Systems on M-ATVs
Filed under: Syndicated Industry News
BAE Systems Awarded $63.9 Million Contract for Prototype Paladin Integrated Management Vehicles
Filed under: Syndicated Industry News
Oshkosh Defense Awarded Additional 923 M-ATVs Valued at $408.5 Million
Filed under: Syndicated Industry News
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