Oshkosh Defense M-ATVs Arrive for Military Evaluation; Offer Superior Solutions to Meet ‘Urgent Need’ in Afghanistan

OSHKOSH, Wis.--(BUSINESS WIRE)--Three production-representative MRAP All Terrain Vehicles (M-ATV) from Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), have arrived at the U.S. Army’s Aberdeen Proving Ground in Maryland today for military evaluation.

“The vehicles we delivered today meet the urgent need requirement for a well-armored vehicle that excels in moving our soldiers and Marines forward in Afghanistan’s harsh environments and dangerous operations”

The Oshkosh^® M-ATV is designed to meet the U.S. Armed Services’ urgent need requirement for a well-protected vehicle than can thrive in operations on Afghanistan’s rugged and mountainous off-road terrain. In addition to meeting these mobility demands, the Oshkosh M-ATV provides the superior crew protection that military forces need by incorporating an armor system from Plasan North America, which developed the armor system in use on more than 5,000 current MRAP vehicles and for the Armored Cab Medium Tactical Vehicle Replacements (MTVR) in Iraq and Afghanistan.

“The vehicles we delivered today meet the urgent need requirement for a well-armored vehicle that excels in moving our soldiers and Marines forward in Afghanistan’s harsh environments and dangerous operations,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “The Oshkosh M-ATV is ideal and unique in this competition because it boasts MRAP-level protection on a mobile and proven vehicle chassis.”

The Oshkosh M-ATV’s superior mobility is achieved with the integration of the company’s TAK-4^® independent suspension system. The same system is used on more than 10,000 MTVRs, which are renowned for their advanced crew-protection capabilities and unmatched mobility in off-road operations, including those in Afghanistan. Oshkosh recently was awarded a contract to integrate the TAK-4 system onto MRAPs in the field to improve mobility.

Oshkosh Defense delivers the M-ATV with the survivability, mobility, mission-proven and production-ready solutions required for Afghanistan. The vehicle is based on the combat-proven Oshkosh MTVR chassis, which has been successfully operating for many years in the most difficult off-road missions in Iraq, Afghanistan and around the world.

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, (NYSE:OSK), 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 Corp. manufactures, distributes and services products under the brands of Oshkosh^®, JLG^®, Pierce^®, McNeilus^®, Medtec^®, Jerr-Dan^®, BAI^®, Oshkosh Specialty Vehicles, Frontline^™, SMIT^™, Geesink^™, Norba^™, Kiggen^™, 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, 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 the consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; 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 and its adverse impact on the Company’s share price, 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; risks related to reductions in government expenditures and the uncertainty of government contracts; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; the Company’s ability to turn around its Geesink business; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; 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. 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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