Profile: Oshkosh Corporation (OSK)

Oshkosh Corporation (Oshkosh) is a designer, manufacturer and marketer of a range of specialty vehicles and vehicle bodies, including defense trucks, access equipment, fire & emergency vehicles and concrete mixers and refuse collection vehicles. The Company operates in four business segments: defense, access equipment, fire & emergency, and commercial. It manufactures defense trucks under the Oshkosh brand name, and is a manufacturer of severe-duty heavy- and medium-payload tactical trucks for the United States Department of Defense (DoD). The Company is also the manufacturer of aerial work platforms under the JLG brand name. Under the Pierce brand name, the Company manufactures fire apparatus assembled on both custom and commercial chassis. The Company manufactures aircraft rescue and fire fighting (ARFF) and airport snow removal vehicles under the Oshkosh brand name and ambulances under the Medtec brand name. The Company manufactures mobile medical trailers under the Oshkosh Specialty Vehicles and SMIT brand names. Under the Frontline brand name, it is a domestic manufacturer and marketer of broadcast vehicles. Under the McNeilus, Oshkosh, London and CON-E-CO brand names, the Company manufactures rear- and front-discharge concrete mixers, and portable and stationary concrete batch plants. Under the McNeilus brand name, the Company manufactures a range of automated, rear, front, side and top loading refuse collection vehicles. Under the IMT brand name, the Company is a domestic manufacturer of field service vehicles and truck-mounted cranes.

On July 1, 2009, the Company completed the sale of its European refuse collection vehicle business, Geesink Group B.V., Norba A.B. and Geesink Norba Limited and their wholly owned subsidiaries (Geesink). In October 2009, the Company completed the sale of its 75% interest in BAI Brescia Antincendi International S.r.l. and its wholly-owned subsidiary (BAI).

Defense Segment

The Company’s defense segment has sold products to the United States Department of Defense (DoD). It also manufactures severe-duty, heavy- and medium-payload tactical trucks for the DoD, manufacturing vehicles that perform a range of demanding tasks, such as hauling tanks, missile systems, ammunition, fuel and cargo for combat units. Oshkosh’s military all-wheel drive product line of heavy-payload tactical trucks includes the heavy expanded mobility tactical truck (HEMTT), the heavy equipment transporter (HET), the palletized load system (PLS), the common road bridge transporter and the logistic vehicle system replacement (LVSR). The Company’s military medium-payload tactical trucks include the medium tactical vehicle replacement (MTVR) and the medium tactical truck (MTT). The Company also exports severe-duty, heavy- and medium-payload tactical trucks to approved foreign customers.

The Company competes with BAE Systems plc, Man Group plc, Mercedes-Benz, Navistar Defense LLC, The Volvo Group, Force Protection Inc. and General Dynamics Corp. in this segment.

Access Equipment Segment

The access equipment segment manufactures aerial work platforms and telehandlers used in a range of construction, agricultural, industrial, institutional and general maintenance applications to position workers and materials at elevated heights. JLG Industries, Inc. and its wholly owned subsidiaries (JLG) has introduced products, such as the LiftPod personal aerial work platform and the ClearSky telematics solution for use by rental companies in managing access equipment fleets. Access equipment customers include equipment rental companies, construction contractors, manufacturing companies, home improvement centers and the United States military.

JLG, through its wholly owned subsidiary Access Financial Solutions, Inc., also arranges equipment financing and leasing solutions for its customers, through private-label arrangements with independent third-party financial companies, and provides credit support in connection with these financing and leasing arrangements. Financing arrangements that JLG offers or arranges through this segment include installment sale contracts, capital leases, operating leases and rental purchase guarantees.

The Company competes with Genie Industries, Inc., Haulotte Group, Skyjack Inc., J C Bamford Excavators Ltd., the Manitou Group and MerloSpA in this segment.

Fire & Emergency Segment

The Company, through Pierce Manufacturing Inc. (Pierce) is a manufacturer of fire apparatus assembled on custom chassis, designed and manufactured by Pierce to meet the special needs of firefighters. Pierce also manufactures fire apparatus assembled on commercially available chassis, which are produced for multiple end-customer applications. Pierce offers a range of custom and commercial fire apparatus and emergency vehicles, including pumpers, aerial and ladder trucks, tankers, light-, medium- and heavy-duty rescue vehicles, wildland rough terrain response vehicles, mobile command and control centers, bomb squad vehicles, hazardous materials control vehicles and other emergency response vehicles.

The Company, through its Oshkosh brand, is a provider of airport snow removal vehicles. Through JerrDan Corporation (JerrDan) is a manufacturer and marketer of towing and recovery equipment in the United States. In addition to manufacturing equipment, JerrDan provides its customers with one-stop service for carriers and wreckers and generates revenue from the installation of equipment, as well as the sale of chassis and service parts.

Through Medtec Ambulance Corporation (Medtec), the Company is the manufacturer custom ambulances for private and public transporters and fire departments. Through Oshkosh Specialty Vehicles, Inc., AK Specialty Vehicles B.V. and their wholly owned subsidiaries (OSV), the Company is engaged in the manufacturing of mobile medical vehicles for North American and European medical centers and service providers. OSV is also the manufacturer, system designer and integrator of custom vehicles for the broadcast industry, where the Company, under its Frontline brand, markets a range of television broadcast, satellite news gathering and microwave transmission electronic news gathering vehicles to broadcasters, television stations, broadcast production, radio stations and National Aeronautics and Space Administration (NASA). OSV also manufactures mobile command and control centers and simulation units for sale to police, fire and other government agencies in the United States.

The Company competes with Rosenbauer International AG; Emergency One, Inc.; Kovatch Mobile Equipment Corp.; Øveraasen AS; Schmidt Equipment & Engineering; Schmidt Equipment & Engineering; Miller Industries, Inc.; Halcore Group, Inc.; Wheeled Coach Industries; Marque Inc./McCoy-Miller, LLC; Med Coach, LLC, Ellis and Watts International, Inc.; Wolf Coach, and Television Engineering Corporation in this segment.

Commercial Segment

Through McNeilus Companies, Inc. (McNeilus), the Company manufactures refuse collection vehicles for the waste services industry. Through Oshkosh, McNeilus, London Machinery Inc. and its wholly-owned subsidiary (London) and Concrete Equipment Company, Inc. and its wholly-owned subsidiary (CON-E-CO), the Company is a leading manufacturer of front- and rear-discharge concrete mixers and portable and stationary concrete batch plants for the concrete ready-mix industry. Through IMT, the Company is a manufacturer of field service vehicles and truck-mounted cranes for the construction, equipment dealer, building supply, utility, tire service and mining industries.

The Company competes with Continental Manufacturing Co.; Terex Corporation; Kimble Manufacturing Company; The Heil Company; LaBrie Equipment Ltd.; New Way; Auto Crane Company; Stellar Industries, Inc.; Maintainer Corporation of Iowa, Inc.; Palfinger AG; Cargotec Corporation, and Fassi Group SpA.