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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6098773&lang=en
Contacts:
Oshkosh Corporation
Financial:
Patrick Davidson, 920-966-5939
Vice
President, Investor Relations
or
Media:
Ann Stawski,
920-966-5959
Vice President, Marketing Communications
