Oshkosh Corporation and City of Oshkosh Working Together on Expansion

OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE:OSK) announced today that it is working with the city of Oshkosh on plans to expand the Company’s manufacturing facilities in Oshkosh, Wis. Oshkosh Corporation and the city of Oshkosh have been in good faith discussions since April 2009 on assistance from the city through the creation of a new tax increment financing (TIF) district. The TIF is pending approval by the Oshkosh Common Council and has the support of the city of Oshkosh and its partners, Chamco, Inc., the Oshkosh Chamber of Commerce, the Oshkosh Area Economic Development Corporation and Winnebago County.

“This new, state-of-the-art E-coat facility will complement our industry-leading manufacturing capabilities, and has the potential to significantly increase our operations and further secure our place as a premier manufacturer in the community.”

Plans center on a new 150,000-square-foot electrocoat (E-coat) painting facility in support of production of the U.S. Army’s Family of Medium Tactical Vehicles (FMTV). The company plans to break ground on the new E-coat facility in December 2009, with start up beginning late summer 2010.

“We look forward to working with the city and the state as we move forward on this project, which was outlined in our original proposal to our customer. It is so important to have support from our community as we continue to build the products that protect the men and women in our military forces,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “This new, state-of-the-art E-coat facility will complement our industry-leading manufacturing capabilities, and has the potential to significantly increase our operations and further secure our place as a premier manufacturer in the community.”

Oshkosh was awarded the FMTV five-year requirements contract in August 2009 for the production of up to 23,000 vehicles and trailers, as well as support services and training. The first delivery order is for $280.9 million for the production and delivery of 2,568 trucks and trailers. The FMTV is a series of up to 23 variants and 17 different models, ranging from 2.5-ton to 5-ton payloads. Production for initial test vehicles is planned for mid-2010, followed by full production in 2011.

While the contract is currently on hold pending protests, Oshkosh believes the award should be upheld and is continuing plans to meet the customer’s needs. The facility is planned to be used for the painting, coating and finishing of FMTV vehicles and parts and could also be able to support Oshkosh’s other product lines for its customers.

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 Corp. 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, 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.