OSHKOSH, Wis.--(Business Wire)--
Oshkosh Corporation (NYSE:OSK) today welcomed Defense Secretary Robert Gates to
tour its MRAP All Terrain Vehicle (M-ATV) production facility in Oshkosh.
Secretary Gates also met with and addressed employees who are manufacturing the
new vehicles that protect the U.S. Warfighters and allow troops to take the
fight to remote areas of the rugged Afghan terrain.
"Thousands of M-ATVs will soon be on their way to Afghanistan," Defense
Secretary Gates told employees. "With every vehicle you complete, you are saving
American lives and giving our troops the tools they need to accomplish their
mission and come home safely."
The M-ATV was developed out of a need from the U.S. Armed Services in
Afghanistan for a vehicle that retained the protection of legacy MRAPs while
providing improved mobility to traverse the country`s mountainous terrain and
unimproved road network. During the facility tour, Gates observed M-ATV and
other tactical wheeled vehicle production, before speaking to employees.
Afterwards he participated in a test drive at the Company`s Test & Development
facility.
Having exceeded M-ATV delivery requirements for four consecutive months,
Oshkosh`s production output will ramp up to 1,000 vehicles per month in
December. Since receiving its first delivery order on June 30, the company`s
efficient manufacturing operations have resulted in the first vehicles arriving
in Afghanistan in October, only three months after award.
"We are honored to welcome Defense Secretary Gates to our facilities to see
first-hand the unyielding support for the Department of Defense from Oshkosh
Corporation and our highly-skilled, dedicated employees," said Robert G. Bohn,
Oshkosh Corporation chairman and chief executive officer. "In addition to
meeting on-time delivery for our other commercial and defense customer orders,
we continue to rapidly produce M-ATVs at increasing levels for operations in
Afghanistan. We also are fully supporting the M-ATV program beyond the
production line, from the delivery of spare-parts kits to in-theater support."
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.
Photo Caption: U.S. Secretary of Defense Robert Gates visits Oshkosh Corporation
to thank employees for their hard work on the new M-ATV. Pictured are: front,
from left: Jake Jones, plant manager, Oshkosh Defense, and Secretary Gates;
middle, from left: U.S. Sen. Herb Kohl of Wisconsin and Ashton Carter, U.S.
under secretary of defense for acquisition, technology and logistics; back, from
left: Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer,
U.S. Rep. Tom Petri of Wisconsin, and Oshkosh assembler Robert Anderson.
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.
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Oshkosh Corporation
Financial:
Patrick Davidson, 920-966-5939
Vice President, Investor Relations
or
Media:
Ann Stawski, 920-966-5959
Vice President, Marketing Communications
Copyright Business Wire 2009
