Oshkosh Corporation (NYSE:OSK) announces today that its Defense division
has received two 2009 Defense Manufacturing Excellence Awards from the
National Center for Advanced Technologies (NCAT). Donald H. Verhoff,
Oshkosh Corporation executive vice president of technology, won in the
Individual category, and the Oshkosh MRAP All-Terrain Vehicle (M-ATV)
launch team won in the Large Business – Small Team category.
"At Oshkosh Corporation, our employees fully embrace the importance of
supporting our military in extremely difficult circumstances. It is
truly an honor to have the defense industry recognize their outstanding
achievements,” said Charles Szews, Oshkosh Corporation president and
chief operating officer. "During his 36-year career at Oshkosh
Corporation, Don Verhoff has displayed a constant commitment to
leadership, innovation and the Warfighters. And, our M-ATV production
launch team showed great heart in aligning our corporate and supplier
resources to exceed delivery expectations for the urgent need of our
Armed Forces in Afghanistan.”
The M-ATV launch team has exceeded M-ATV deliveries for five consecutive
months. Vehicles started arriving in Afghanistan just three months after
the June 30 contract award. The highly mobile and survivable vehicle is
equipped with the company’s patented TAK-4® independent
suspension system, a patent held by Verhoff. The TAK-4 system is
featured on more than 10,000 Medium Tactical Vehicle Replacements (MTVR)
used by the U.S. Marine Corps and Navy Seabees, and is being retrofitted
on more than 2,400 legacy MRAPs for improved mobility in Afghanistan.
The system is also used on the Army’s next-generation Palletized Load
System (PLS
A1) and the Marine Corps’ Logistics Vehicle System Replacement (LVSR).
Additionally, under Verhoff’s leadership, the Oshkosh ProPulse®
technology has become the world’s first hybrid-electric drive train
system, suitable for commercial and military vehicle applications.
ProPulse technology can be integrated into any new vehicle design, such
as the Heavy Expanded Mobility Tactical Truck (HEMTT
A3). Additionally, upgrade kits are available for existing vehicles,
such as the MTVR to provide on-board vehicle power (OBVP). The
technology has also been integrated on an Oshkosh commercial chassis in
a refuse-hauling application as part of the Advanced Heavy Hybrid
Propulsion System Project sponsored by the Department of Energy and the
National Renewable Energy Laboratory.
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.
