OSHKOSH, Wis.--(Business Wire)--
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 Corporation
Financial:
Patrick Davidson
Vice President, Investor Relations
920.966.5939
or
Media:
Ann Stawski
Vice President, Marketing Communications
920.966.5959
Copyright Business Wire 2009
