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Oshkosh Defense Unveils Next-Generation Light Combat Vehicle

^{Published on 2011-09-13 17:42:15 - Market Wire}
 

OSHKOSH, Wis.--([ BUSINESS WIRE ])--The next generation of light combat military vehicles require new levels of mobility and protection to operate effectively in remote, rugged and hostile landscapes. Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), designed the Light Combat Tactical All-Terrain Vehicle ([ L-ATV ]) to meet the militarya™s future needs based on 10 years of operational experience with the military utilizing Oshkosha™s heavy, medium and MRAP vehicle fleets in Iraq and Afghanistan.

"We designed the L-ATV to address the rapidly evolving threats and provide troops with greater ability to navigate through extreme driving conditions"

The affordable Oshkosh L-ATV incorporates field-proven technologies, advanced armor solutions and expeditionary levels of mobility to redefine safety and performance standards for the U.S. Armed Forces and international militaries. The L-ATV also is designed for future growth, with the ability to accept additional armor packages and technology upgrades as the mission requires.

aWe designed the L-ATV to address the rapidly evolving threats and provide troops with greater ability to navigate through extreme driving conditions,a said Ken Juergens, vice president and general manager of Joint Programs for Oshkosh Defense. aBattlefields have changed a" threats are more dangerous, operating environments are more rugged and fuel efficiency is more important than ever. The state-of-the-art L-ATV is designed to meet these challenges, today and well into the future, just as our M-ATV continues to meet evolving battlefield threats without comprising its payload and off-road mission profile.a

Equipped with the Oshkosh TAK-4i^a" independent suspension system, the next generation of Oshkosha™s [ TAK-4 ]^® suspension system, the L-ATV can safely navigate dangerous on- and off-road terrain while providing unmatched ride quality. The TAK-4i technology uses a proprietary technology to deliver 20 inches of independent wheel travel a" 25 percent more wheel travel than any vehicle in the U.S. militarya™s fleets a" and expands on the success of the TAK-4 system, which is currently fielded on more than 20,000 military-class vehicles.

The L-ATVa™s armored capsule is scalable and can accept multiple armor configurations to protect troops from IEDs and todaya™s other prevalent battlefield threats. The capsule is optimized for protection, weight and mobility, and its modular and flexible design allows the vehicle to accept a greater range of upgrades and continuous enhancements.

The L-ATVa™s modern technology engine delivers expanded power capabilities, greater fuel efficiency and integrated communications for improved diagnostics and maintenance over legacy engine technologies currently fielded. An optional Oshkosh [ ProPulse ]^® diesel-electric hybrid powertrain has been developed, integrated and tested in the L-ATV, providing a powertrain option that can be readily implemented to maximize the vehiclea™s efficiency through improved fuel economy, high levels of exportable power (stationary and on the move) and lower life-cycle costs.

As evidenced with the MRAP All-Terrain Vehicle ([ M-ATV ]) production, when the company ramped up to exceed 1,000 vehicle deliveries per month, Oshkosh has robust manufacturing capabilities, proven expertise and is ready now to build the L-ATV cost effectively on-time and in the quantities needed, with flexibility for future growth. Oshkosha™s flexible production capabilities and remanufacturing experience allow the company to quickly incorporate production changes or retrofit vehicles with additional armor or upgrades.

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 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^®, Oshkosh Specialty Vehicles, Frontline^a", SMIT^a", 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, 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 aforward-looking statementsa 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 Companya™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 amay,a awill,a aexpect,a aintend,a aestimate,a aanticipate,a abelieve,a ashould,a aprojecta or aplana 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 Companya™s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the cyclical nature of the Companya™s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness, tight credit markets and lower municipal spending; the Companya™s ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Companya™s intangible assets and/or a slower recovery in the Companya™s cyclical businesses than equity market expectations; the impact on revenues and margins of the decrease in M-ATV production rates; the potential for the U.S. government to competitively bid the Companya™s Army and Marine Corps contracts; risks related to work stoppages and other labor matters, especially in light of the pending contract expiration for union employees at the Companya™s Oshkosh defense facilities; the consequences of financial leverage, which could limit the Companya™s ability to pursue various opportunities; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to pass on to customers price increases to offset higher input costs; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; 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 Companya™s products; risks related to production delays arising from supplier quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the potential for disruptions or cost overruns in the Companya™s global enterprise resource planning system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Companya™s distribution networks; and the Companya™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 Companya™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 Companya™s next quarterly earnings conference call, if at all.

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