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Oshkosh Defense Receives Four Awards Valued at $89 Million for M-ATV and FHTV Parts

01/21/2010

OSHKOSH, Wis., Jan 21, 2010 (BUSINESS WIRE) -- Oshkosh Corporation (NYSE:OSK) announced today that its Defense division received four awards valued at more than $89 million from the Defense Logistics Agency (DLA) to supply parts for the MRAP All Terrain Vehicle (M-ATV), Heavy Equipment Transporter (HET) and Heavy Expanded Mobility Tactical Truck (HEMTT).

Under two delivery orders with the DLA, Oshkosh will supply M-ATV spare parts, including engines, transmissions, transfer cases and alternators. Work under the orders is expected to be completed by October 2010. Under two other delivery orders with the DLA, Oshkosh will supply 2,400 axle assemblies for the HEMTT A2 and A4 models and more than 430 engines for the HET. Work under these orders is expected to be completed by December 2010.

Oshkosh is providing the M-ATV's spare parts to the DLA to be used as in-the-field replacements after the original vehicle parts have been consumed. These parts will ship without delay to maintain optimal readiness rates for existing vehicles in theater. To date, Oshkosh has received awards valued at more than $3.6 billion to deliver 6,619 M-ATVs, as well as spare kits and aftermarket in-theater support.

Existing Oshkosh facilities have the capacity, highly skilled workforce and proven manufacturing capability to deliver these spare parts and all other Defense program orders, including the Family of Medium Tactical Vehicles (FMTV), as well as any surges in production.

The M-ATV features the Oshkosh-patented TAK-4(R) independent suspension system to provide superior mobility on Afghanistan's harsh off-road terrain and unimproved roads. Oshkosh teamed with Plasan North America to provide an advanced armor solution for the vehicle. Plasan also developed the armor system used on more than 5,000 legacy MRAPs and thousands of Oshkosh Medium Tactical Vehicle Replacement (MTVR) Armored Cabs already in theater.

A 13-ton payload and off-road capabilities make the Oshkosh(R) HEMTT the backbone of the U.S. Army's logistics fleet. Improvements to the HEMTT A4 include: a more powerful drivetrain; improved suspension; a fully air-conditioned and armor-ready cab; and other structural changes to make in-field installation of add-on armor quicker and easier. The HEMTT A4 is built with maximum common parts across its variants.

The Oshkosh HET is designed to rapidly transport battle tanks, fighting and recovery vehicles, armored vehicles and construction equipment, as well as their crews, so they arrive in mission-ready condition. The latest Oshkosh HET A1 configuration includes increased horsepower, higher-capacity front suspension, an armor-ready cab, electrical upgrades and improved diagnostics.

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(R), JLG(R), Pierce(R), McNeilus(R), Medtec(R), Jerr-Dan(R), Oshkosh Specialty Vehicles, Frontline(TM), SMIT(TM), CON-E-CO(R), London(R) and IMT(R). 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.

(R), (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 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.

SOURCE: Oshkosh Corporation

Oshkosh Corporation
Financial: Patrick Davidson
Vice President, Investor Relations
920.966.5939
or
Media: Ann Stawski
Vice President, Marketing Communications
920.966.5959