Wednesday, May 12, 2010
Oshkosh Corporation Receives $410 Million Delivery Order For Family of Medium Tactical Vehicles
OSHKOSH, Wis. May 10, 2010 – Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, announced today that its Defense division has received a delivery order valued at more than $410 million from the TACOM Life Cycle Management Command (LCMC) for the production and delivery of 2,634 Family of Medium Tactical Vehicles (FMTV) trucks and trailers for the U.S. Army. This award is for deliveries scheduled between March and December 2011. To date, Oshkosh Corporation has received orders valued at more than $690 million under the five-year FMTV requirements contract.
Oshkosh Corporation utilized its own resources to lean forward before its original contract award was affirmed by the Army on February 12, 2010, enabling the company to deliver FMTV vehicles and trailers according to the Army's original schedule. The company will begin supplying initial trucks to the Army this month for performance and durability testing. Production deliveries will begin in October 2010. All Oshkosh FMTV vehicles will include the company's Long-Term Armor Strategy (LTAS)-compliant armor solution.
“Oshkosh Corporation’s world-class production capabilities, coupled with our independent investments in this program, will ensure vehicles are delivered without any disruption to the original timeline,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “We are closely engaged with the Army and moving forward on all necessary processes to maintain this schedule and deliver high-quality trucks and trailers to meet the Warfighters’ needs.”
The five-year, multi-billion-dollar contract calls for the production of an estimated 23,000 trucks and trailers, as well as support services and training. The FMTV is a series of 17 models and 23 variants ranging from 2.5-ton to 10-ton payloads.
Oshkosh Corporation has broken ground on a new 150,000-square-foot, state-of-the-art electrocoat (E-coat) facility in Oshkosh, Wis., to support the FMTV program, and possibly other programs. Facility start-up will begin in late summer 2010. The company also announced last month that it is expanding its Michigan office with plans to move into a new facility in Warren, Mich., and hire up to 190 new employees there to support the FMTV System Technical Support (STS) work.
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.