The U.S. Army has awarded Oshkosh
Defense, LLC, an Oshkosh Corporation (NYSE: OSK) company, a base
contract plus options to reset 800 Oshkosh-produced Mine Resistant
Ambush Protected (MRAP) All-Terrain Vehicles (M-ATVs).
This M-ATV Reset program will help the U.S. Army achieve its goal of
standardizing the M-ATV fleet configuration and ensuring that its
primary MRAP platform is 100% mission ready following years of operation
in theater.
The M-ATV Reset program will provide efficient, mission-ready vehicles to our Warfighters. (Photo: Business Wire)
The M-ATV Reset base contract for 500 vehicles was awarded to Oshkosh on
August 6, 2014. On December 12, 2014, Oshkosh was awarded three
additional contract options for 100 vehicles each. In total, Oshkosh is
on contract to reset 800 M-ATVs for a total contract value of more than
$77 million. Deliveries are currently underway and will continue through
September 2015.
“As the OEM, Oshkosh has the expertise and operational capability to
help the U.S. Army achieve its M-ATV fleet goals in the most efficient,
cost effective manner,” said John Bryant, senior vice president of
defense programs at Oshkosh Defense. “The same supply chain and
workforce that originally produced more than 8,700 M-ATVs on an urgent
need basis were able to step right in and immediately deliver
production-line-quality for this rather complex reset program. We
appreciate this opportunity to continue supporting the M-ATV as the MRAP
platform of choice for future ground missions.”
The M-ATV Reset process performed at Oshkosh begins with a comprehensive
inspection of the vehicle condition and configuration. Following the
vehicle evaluation, Oshkosh systematically completes repairs, replaces
missing parts, and installs a spectrum of upgrade kits necessary to
bring the vehicle to the current configuration for each of the M-ATV
variants in the enduring fleet. These upgrade kits include the underbody
improvement kit (UIK), upgraded automatic fire extinguishing systems
(AFES), and several safety-related improvements, among others.
“At the end of the day, the M-ATV Reset program will ensure that all of
the Soldiers operating in M-ATVs will have fully-capable, mission-ready
vehicles with all of the latest protection and technologies,” said
Bryant.
Oshkosh was awarded the original M-ATV production contract in June 2009
and remains on contract to provide lifecycle service and support through
July 2018.
In addition to M-ATV, Oshkosh has extensive experience providing
lifecycle support for its U.S. Army, Marine Corps and National Guard
heavy and medium tactical wheeled vehicle fleets. At Oshkosh, these
programs span the spectrum of support, from field maintenance and
contractor logistics support to technology upgrades and full
recapitalization programs. As the OEM, Oshkosh’s integrated product
support offering helps maximize the capability, reliability and
readiness of the U.S. Armed Forces tactical wheeled vehicle fleets –
anywhere in the world.
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 access equipment, commercial, fire & emergency,
military and specialty 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 by rental
companies, concrete placement and refuse businesses, fire & emergency
departments, municipal and airport services and defense forces, where
high quality, superior performance, rugged reliability and long-term
value are paramount. For more information, visit 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 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. Joint Light Tactical Vehicle 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 expansion, 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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