Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), has been awarded a new contract valued at more than $180 million from the U.S. Marine Corps Systems Command. The contract includes more than 1,500 reducible-height armor kits to be supplied to the Marine Corps for aftermarket support of the Oshkosh® Medium Tactical Vehicle Replacement (MTVR) fleet.
The kits are designed to meet military requirements of transporting armored MTVRs at a reduced height. This allows the protected vehicles to be transported in previously inaccessible decks aboard prepositioning ships. The Oshkosh armored kits add in-theater protection to the Marine Corps’ MTVR fleet, which totals more than 10,000 MTVRs in four unique variants: cargo trucks, tractors, dump trucks and wreckers.
“The reducible-height armor kits provide maximum crew protection in the field, while also improving transportability of the armored MTVR,” said John Stoddart, Oshkosh Corporation executive vice president and president, Defense. “The MTVR has successfully served the Marine Corps and Navy for years, and Oshkosh is committed to adapting the vehicle to continually meet their needs.”
The work will be carried out through Oshkosh Defense Aftermarket, which provides aftermarket services, repairs and parts distribution to customers in every corner of the globe. With factory-trained technicians, Web-based parts support and service centers worldwide, customers are covered 24/7 whether their vehicles are in the field or in garrison.
The Oshkosh MTVR is an all-terrain, multipurpose logistics vehicle used by the Marines and Navy Seabees. It comes in several variants for the transportation of troops, materials or equipment. The vehicle features an off-road 7.1-ton payload capacity and an on-road 15-ton payload capacity. Oshkosh also offers an MTVR with on-board vehicle power, which produces 120 kW of power when stationary and 21 kW of power when mobile.
Since the start of Operation Iraqi Freedom, Oshkosh has repaired and armored vehicles in the Southwest Asia theater of operations, and Oshkosh field service representatives are currently deployed throughout the Middle East.
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®, 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.
Forward-Looking Statements
This press release contains statements that the Company believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital spending and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as "expects," "intends," "estimates," "anticipates," or "believes" and similar expressions 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 that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of the Company's financial leverage position and the level of associated borrowing costs; the cyclical nature of the Company's access equipment, commercial and fire & emergency markets, especially during a recession, which many believe the U.S. economy has already entered; the Company’s ability to offset rising steel, fuel and other costs through other cost decreases or product selling price increases; risks related to reductions in government expenditures and the uncertainty of government contracts; risks associated with international operations and sales, including foreign currency fluctuations; and the Company's ability to turn around its Geesink Norba Group business. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission.
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