Oshkosh Corporation (NYSE: OSK) announced today that the Company’s
Defense segment has been awarded a contract to provide the United Arab
Emirates (UAE) Armed Forces with 750 Mine Resistant Ambush Protected
All-Terrain Vehicles (M-ATVs).
The Oshkosh M-ATVs will enhance the UAE’s ground operations by providing
greater off-road mobility and crew protection to support national
security, as well as critical missions related to the security of the
Middle East and the broader community of nations.
The Oshkosh M-ATV is proven effective in supporting ground operations - from urban security patrols to combat in harsh desert and mountainous terrain. (Photo: Oshkosh Defense)
The contract awarded to Oshkosh Corporation allows for additional
vehicles to be ordered at the discretion of the customer. Oshkosh is
scheduled to deliver M-ATVs to the UAE between January and August 2013,
pending standard regulatory requirements.
“The UAE continues to expand its role, in partnership with its allies
including the United States, in regional security and peace-keeping
operations,” said John
Urias, executive vice president, Oshkosh Corporation and president,
Oshkosh Defense. “The UAE is central to our international growth
strategy, and we are honored that they have selected the Oshkosh M-ATV
to support their missions.”
“The M-ATV provides the industry’s highest levels of protection and
performance,” said Serge
Buchakjian, senior vice president and general manager of
International Programs, Oshkosh Defense. “No vehicle has been more
effective in supporting ground operations – from urban security patrols
to combat in harsh desert and mountainous terrain. As we produce and
deliver this exceptional vehicle to the UAE Armed Forces, we are equally
committed to providing long-term service and to supporting those who
rely on our M-ATVs to achieve their missions.”
To date, Oshkosh has received delivery orders for more than 9,500 M-ATVs.
Prior to this M-ATV order, the Company also produced the Oshkosh Global
Heavy Equipment Transporter (HET)
and Oshkosh Heavy Expanded Mobility Tactical Truck (HEMTT)
A4 for international customers. The Global HET features a powerful
700-horsepower engine and is able to transport a main battle tank,
armored vehicles, construction equipment and more, reducing the wear on
equipment and crew fatigue that typically occurs over long distances.
The Oshkosh HEMTT A4 variants including the Patriot tractor, wrecker,
and guided missile transporter are also part of the Patriot Advanced
Capability (PAC)-3 missile system.
For B-roll video of the M-ATV, visit ftp://oshkosh.psbpr.com/M-ATV/
(username: oshkosh password: defenseFTP).
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™, SMIT™, 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
“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; the expected
level and timing of the 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; increasing commodity
and other raw material costs, particularly in a sustained economic
recovery; the ability to increase prices to offset higher input costs;
risks related to facilities consolidation and alignment, including costs
and charges thereof and that anticipated cost savings may not be
achieved; the Company’s ability to produce defense vehicles under
contract at targeted margins; the duration of the ongoing global
economic weakness, 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; the potential for the U.S. government to
competitively bid the Company’s Army and Marine Corps contracts; the
consequences of financial leverage, which could limit the Company’s
ability to pursue various opportunities; 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; risks related to actions of activist shareholders; and 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. 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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