Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty and
military vehicles, announced today that John M. Urias, executive vice
president of Oshkosh Corporation and president of Oshkosh Defense, LLC.,
will retire effective February 6, 2016, to attend to matters regarding
the health of his family. Mr. Urias has served as the president of
Oshkosh Defense since 2011 following a distinguished 31-year military
career.
Wilson Jones, Oshkosh Corporation president and chief executive officer,
will lead the Defense segment on a day-to-day basis until a replacement
for Mr. Urias is named. Mr. Urias will continue to provide support to
Oshkosh during this transition period.
“It’s been an honor working with John to serve the brave men and women
of our Armed Forces,” said Wilson Jones. “His military expertise and
business insights have been instrumental in the expansion of our Defense
product portfolio and global presence. Because of his leadership, as
well as the outstanding Defense team he has built, our Defense segment
is poised for long-term growth. We wish John and his family all the best
as he starts a new chapter in his life.”
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 collection 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, 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 our 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 Proxy
Statement, 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 our 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 Company’s estimates of access equipment demand which, among other
factors, are influenced by historical buying patterns and rental company
fleet replacement strategies; the strength of the U.S. dollar and its
impact on Company exports, translation of foreign sales and purchased
materials; the expected level and timing of U.S. Department of Defense
(“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; risks related to
the Company’s future defense segment depending upon the outcome of a
competitor’s challenge of the JLTV production contract award to the
Company; the Company’s ability to finalize an international contract for
a significant quantity of M-ATVs, with the majority of the units sold in
fiscal year 2016; 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; projected
adoption rates of work at height machinery in emerging markets; the
impact of severe weather or natural disasters that may affect the
Company, its suppliers or its customers; 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 compliance
with the Foreign Corrupt Practices Act; the Company’s ability to comply
with complex laws and regulations applicable to U.S. government
contractors; cybersecurity 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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