House & Home
House and Home
House and Home 
Tue, December 22, 2009
Mon, December 21, 2009
GARNER, Iowa--([ BUSINESS WIRE ])--Iowa Mold Tooling Co. Inc. (IMT), an Oshkosh Corporation company (NYSE:OSK), announced today that it has expanded its manufacturing operations into McIntire, Iowa, by opening a new facility to handle its increased welding activities. The plant opening created about 40 welding jobs. IMT has also hired more welders at its main facility in Garner, Iowa.
"Our sales, engineering and technical support teams have more than 600 years of combined IMT experience, which is unprecedented in our industry."
Despite the global recession, business at IMT increased significantly in 2009, primarily due to a partnership between IMT and its parent company, Oshkosh Corporation, that supports the military's need for new equipment overseas. IMT has been designing and manufacturing lifting equipment specifically for military applications since 2008.
"With the increased workload at IMT, it became clear that we would need to expand our operations to meet demand," said Steve Fairbanks, IMT president. "In these tough economic times, this is great news for IMT and our community. Our manufacturing expansion not only supports our military efforts, but also allows us to quickly respond to increased customer needs when the economy improves."
The grand opening event took place Dec. 15, 2009, and the facility is now fully up and running.
"These new employees join our experienced workforce at IMT," Fairbanks said. "Our sales, engineering and technical support teams have more than 600 years of combined IMT experience, which is unprecedented in our industry."
About IMT:
Iowa Mold Tooling Co., Inc., an Oshkosh Corporation (NYSE: OSK) company, began in 1961 as a business providing new tread designs for recapping tires. The company has grown to become the leading manufacturer and supplier of service vehicles, cranes, hydraulic loaders and air compressors for tire, mining, construction, material handling and utility markets around the world. Log on to [ www.imt.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®, Medtec®, Jerr-Dan®, BAI™, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. The Oshkosh brands 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.