Oshkosh
Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, will
produce 256 Family of Medium Tactical Vehicles (FMTV)
trucks and trailers for the U.S. Army following a $67 million order from
the U.S. Army TACOM Life Cycle Management Command (LCMC). Deliveries
will occur from 2015 to 2016.
The 256 FMTVs ordered by the U.S. Army will continue to support soldiers at home and abroad. (Photo: Business Wire)
“The Oshkosh FMTV program exemplifies the quality and value that we
provide to our military customers,” said John Bryant, senior vice
president of defense programs at Oshkosh Defense. “Since the day Oshkosh
was awarded the FMTV program, we’ve applied our vehicle expertise and
operational efficiency to dramatically improve quality – all while
saving U.S. taxpayers more than $2 billion. Today’s Oshkosh-produced
FMTVs are supporting soldiers in operations around the world with the
more reliable equipment they deserve.”
Oshkosh began producing FMTVs for the U.S. Army in 2010. Since then,
Oshkosh has delivered more than 22,000 trucks and 11,000 trailers. In
2012, amidst the sharp ramp up of monthly deliveries, the U.S.
Department of Defense recognized Oshkosh with the 2013 Value Engineering
Achievement Award. Oshkosh earned the award in the “Contractor” category
for significantly improving product quality and reliability, as well as
reducing product and life cycle costs.
The FMTV program supports the U.S. Army and National Guard at home and
abroad in tactical and combat operations, relief efforts, and unit
resupply missions. The vehicles feature crew-protecting armor and
advanced technologies to provide the capability, versatility, mobility
and protection to move troops and supplies, recover vehicles and weapon
systems, or haul equipment wherever the mission requires. The FMTV is a
series of 17 models and 23 configurations ranging from 2.5-ton to 10-ton
payloads. Vehicles have a parts commonality of more than 80 percent,
resulting in streamlined maintenance, training, sustainment and overall
cost efficiency.
About Oshkosh Defense
Oshkosh Defense is a leading provider of tactical wheeled vehicles and
life cycle sustainment services. For decades Oshkosh has been mobilizing
military and security forces around the globe by offering a full
portfolio of heavy, medium, light and highly protected military vehicles
to support our customers’ missions. In addition, Oshkosh offers advanced
technologies and vehicle components such as TAK-4®
independent suspension systems, TerraMax® unmanned ground
vehicle solutions, Command Zone™ integrated control and diagnostics
system, and ProPulse® diesel electric and on-board vehicle
power solutions, to provide our customers with a technical edge as they
fulfill their missions. Every Oshkosh vehicle is backed by a team of
defense industry experts and complete range of sustainment and training
services to optimize fleet readiness and performance. Oshkosh Defense,
LLC is an Oshkosh Corporation company [NYSE: OSK].
To learn more about Oshkosh Defense, please visit us at 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 Corporation
manufactures, distributes and services products under the brands of
Oshkosh®, JLG®, Pierce®, McNeilus®,
Jerr-Dan®, Frontline™, 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, please visit www.oshkoshcorporation.com.
®, TM 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 the cyclical nature of the Company’s
access equipment, commercial and fire & emergency markets, which are
particularly impacted by the strength of U.S. and European economies;
the strength of emerging market growth and projected adoption rates of
work at height machinery; the expected level and timing of DoD and
international defense customer procurement of products and services and
funding thereof; risks related to reductions in government expenditures
in light of U.S. defense budget pressures, sequestration and an
uncertain DoD tactical wheeled vehicle strategy, including the Company’s
ability to successfully manage the cost reductions required as a result
of lower customer orders in the defense segment; the Company’s ability
to win a U.S. JLTV production contract award and international defense
contract awards; the Company’s ability to increase prices to raise
margins or offset higher input costs; increasing commodity and other raw
material costs, particularly in a sustained economic recovery; risks
related to facilities consolidation and alignment, including the amounts
of related costs and charges and that anticipated cost savings may not
be achieved; global economic uncertainty, which could lead to additional
impairment charges related to many of the Company’s intangible assets
and/or a slower recovery in the Company’s cyclical businesses than
Company or equity market expectations; risks related to the
collectability of receivables, particularly for those businesses with
exposure to construction markets; the cost of any warranty campaigns
related to the Company’s products; risks related to production or
shipment delays arising from quality or production issues; risks
associated with international operations and sales, including foreign
currency fluctuations and compliance with the Foreign Corrupt Practices
Act; the Company’s ability to comply with complex laws and regulations
applicable to U.S. government contractors; the impact of severe weather
or natural disasters that may affect the Company, its suppliers or its
customers; cyber security risks and costs of defending against,
mitigating and responding to a data security breach; and risks related
to the Company’s ability to successfully execute on its strategic road
map and meet its long-term financial goals. 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.
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