OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE:OSK - News) announced today that it has reached a milestone production rate for the MRAP All Terrain Vehicle (M-ATV) of 1,000 vehicles per month on December 18. The production for December is the sixth consecutive month Oshkosh exceeded delivery requirements. Since being awarded the contract on June 30, 2009, Oshkosh has been steadily ramping up production, and will continue at this rate of 1,000 vehicles per month through May 2010 to deliver the 6,619 vehicles currently under contract.“Our employee gave a great effort to meet the aggressive production timeline for these urgently needed vehicles. These M-ATVs will help improve the safety and mobility of our soldiers and Marines in Afghanistan,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “Staying on or ahead of our delivery schedule goes beyond the M-ATV program. It is a core value with every order we receive and every high-quality vehicle we produce here at Oshkosh.”
Oshkosh reached the milestone by using production capacity at existing manufacturing facilities in Oshkosh, Wis. and McConnellsburg, Pa. These and other Oshkosh Corporation 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) program, as well as any surges in production. Oshkosh uses an integrated assembly line to simultaneously produce as many as 10 vehicle models with 29 variations at its facilities.
In addition to exceeding the M-ATV’s production requirements, Oshkosh has received orders to send its fully trained field service representatives (FSR) to Afghanistan and supply spare-parts kits to provide the full spectrum of life-cycle support that will help sustain the M-ATV program. Oshkosh has the experience and infrastructure in place in the theater of operation to provide the required level of support, from parts supply to remanufacturing.
Oshkosh Defense has 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.
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.
Contact:
Oshkosh Corporation
Financial:
Patrick Davidson
Vice President, Investor Relations
920.966.5939
or
Media:
Ann Stawski
Vice President, Marketing Communications
920.966.5959
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