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Oshkosh Defense and General Dynamics Land Systems-Canada Team for Canadian Wheeled Vehicle Programs

03/22/2010

OSHKOSH, Wis. & LONDON, Ontario, Mar 22, 2010 (BUSINESS WIRE) -- Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), and General Dynamics Land Systems-Canada have finalized an agreement that will team the two companies in pursuit of two Canadian Department of National Defence (DND) wheeled vehicle programs, the Tactical Armoured Patrol Vehicle (TAPV) and the Standard Military Pattern (SMP) portion of the Medium Support Vehicle System (MSVS). General Dynamics Land Systems, the Canadian company's parent corporation, is a business unit of General Dynamics (NYSE:GD).

The TAPV program will replace the Armoured Patrol Vehicle (APV) and the Coyote reconnaissance vehicle, and the MSVS program will replace the Medium Logistics truck fleet. The new programs will enhance the capabilities of the Canadian Forces with protected, high-performance vehicle fleets.

"We couldn't be happier that we are teamed with General Dynamics Land Systems-Canada, a proven leader in designing and supporting Canadian land systems," said Ron Ziebell, vice president and general manager, International Programs, Oshkosh Defense. "The superior offerings we can provide with General Dynamics Land Systems-Canada made our cooperation the obvious choice as we considered how best to serve the DND soldiers. General Dynamics Land Systems-Canada has a significant Canadian presence, which will allow for localized, Canada-based sustainment of these two programs in our effort to provide true complete lifecycle support of these programs."

"Oshkosh Defense vehicle platforms have proven, world-class performance capabilities and they push the engineering envelope to deliver the best tactical wheeled vehicle fleets in the field," said Dr. Sridhar Sridharan, senior vice-president of General Dynamics Land Systems-Canada. "We are pleased to be working with a company that can help deliver the survivable, off-road capable and technologically advanced vehicles that the Canadian Forces need for both the MSVS and TAPV."

Oshkosh Defense will serve as the prime contractor and leverage current vehicle fleets in its responses for the TAPV and MSVS programs. Oshkosh has produced more than 70,000 military-class vehicles, including the MRAP All-Terrain Vehicle (M-ATV), Medium Tactical Vehicle Replacement (MTVR) and the Family of Medium Tactical Vehicles (FMTV). General Dynamics Land Systems-Canada will provide systems integration and testing support for the vehicle as well as extensive logistics, training, technical manuals, and spare parts management to Canadian requirements.

This is the second time Oshkosh Defense and General Dynamics Land Systems-Canada will work together on a program. Oshkosh Defense is currently providing more than 120 TAK-4(R) independent suspension systems for the General Dynamics Land Systems-Canada RG-31 Mine Resistant Ambush Protected (MRAP) vehicle to deliver enhanced off-road mobility and ride quality.

About General Dynamics Land Systems-Canada

General Dynamics Land Systems-Canada, located in London, Ontario, Canada, is a business unit of General Dynamics Land Systems of Sterling Heights, Michigan. For over 30 years, more than 2,000 highly skilled technical employees have designed, manufactured, delivered and supported to global customers a unique family of light armoured vehicles (LAV). More information on the company is available at www.gdlscanada.com.

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 General Dynamics

General Dynamics, headquartered in Falls Church, Va., employs approximately 91,700 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.generaldynamics.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.

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 sustaining the required 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 tight credit markets; 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, risks related to reductions in government expenditures, the potential for the government to competitively bid the Company's Army and Marine contracts and the uncertainty of government contracts generally; 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. Investors should be aware that the Company may not update such information until the Company's next quarterly earnings conference call, if at all.

SOURCE: Oshkosh Corporation

for Oshkosh Corporation
Eddie Garcia, 920-233-9212
egarcia@defense.oshkoshcorp.com
or
Ken Yamashita, 519-964-5813
yamashik@gdls.com