Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), and
General Dynamics Land Systems-Canada have finalized an agreement that
will team the two companies in pursuit of two Canadian Department of
National Defence (DND) wheeled vehicle programs, the Tactical Armoured
Patrol Vehicle (TAPV) and the Standard Military Pattern (SMP) portion of
the Medium Support Vehicle System (MSVS). General Dynamics Land Systems,
the Canadian company’s parent corporation, is a business unit of General
Dynamics (NYSE:GD).
The TAPV program will replace the Armoured Patrol Vehicle (APV) and the
Coyote reconnaissance vehicle, and the MSVS program will replace the
Medium Logistics truck fleet. The new programs will enhance the
capabilities of the Canadian Forces with protected, high-performance
vehicle fleets.
"We couldn’t be happier that we are teamed with General Dynamics Land
Systems-Canada, a proven leader in designing and supporting Canadian
land systems,” said Ron Ziebell, vice president and general manager,
International Programs, Oshkosh Defense. "The superior offerings we can
provide with General Dynamics Land Systems-Canada made our cooperation
the obvious choice as we considered how best to serve the DND soldiers.
General Dynamics Land Systems-Canada has a significant Canadian
presence, which will allow for localized, Canada-based sustainment of
these two programs in our effort to provide true complete lifecycle
support of these programs.”
"Oshkosh Defense vehicle platforms have proven, world-class performance
capabilities and they push the engineering envelope to deliver the best
tactical wheeled vehicle fleets in the field,” said Dr. Sridhar
Sridharan, senior vice-president of General Dynamics Land
Systems-Canada. "We are pleased to be working with a company that can
help deliver the survivable, off-road capable and technologically
advanced vehicles that the Canadian Forces need for both the MSVS and
TAPV.”
Oshkosh Defense will serve as the prime contractor and leverage current
vehicle fleets in its responses for the TAPV and MSVS programs. Oshkosh
has produced more than 70,000 military-class vehicles, including the
MRAP All-Terrain Vehicle (M-ATV),
Medium Tactical Vehicle Replacement (MTVR)
and the Family of Medium Tactical Vehicles (FMTV).
General Dynamics Land Systems-Canada will provide systems integration
and testing support for the vehicle as well as extensive logistics,
training, technical manuals, and spare parts management to Canadian
requirements.
This is the second time Oshkosh Defense and General Dynamics Land
Systems-Canada will work together on a program. Oshkosh Defense is
currently providing more than 120 TAK-4®
independent suspension systems for the General Dynamics Land
Systems-Canada RG-31 Mine Resistant Ambush Protected (MRAP) vehicle to
deliver enhanced off-road mobility and ride quality.
About General Dynamics Land Systems-Canada
General Dynamics Land Systems-Canada, located in London, Ontario,
Canada, is a business unit of General Dynamics Land Systems of Sterling
Heights, Michigan. For over 30 years, more than 2,000 highly skilled
technical employees have designed, manufactured, delivered and supported
to global customers a unique family of light armoured vehicles (LAV).
More information on the company is available at www.gdlscanada.com.
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 General Dynamics
General Dynamics, headquartered in Falls Church, Va., employs
approximately 91,700 people worldwide. The company is a market leader in
business aviation; land and expeditionary combat systems, armaments and
munitions; shipbuilding and marine systems; and information systems and
technologies. More information about General Dynamics is available
online at www.generaldynamics.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.
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 sustaining the
required 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 tight credit
markets; 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, risks
related to reductions in government expenditures, the potential for the
government to competitively bid the Company’s Army and Marine contracts
and the uncertainty of government contracts generally; 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. Investors should be aware
that the Company may not update such information until the Company’s
next quarterly earnings conference call, if at all.
