U.S. Army takes action to maintain operational
readiness of its logistics fleet
The U.S. Army has awarded Oshkosh Defense, LLC, an Oshkosh
Corporation (NYSE: OSK) company, a five year requirements contract
to recapitalize its Family of Heavy Tactical Vehicles (FHTV).
Oshkosh will bring the Army’s fleet of Heavy Expanded Mobility
Tactical Trucks (HEMTT) and Palletized Load Systems (PLS) to the
latest model configuration and the same zero-mile, zero-hour
condition as new production vehicles.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150619005603/en/
For more than two decades, Oshkosh has
recapitalized over 12,000 heavy tactical vehicles for the U.S.
Army. (Photo: Business Wire)
Overall, the contract’s potential value is $780 million for the
recapitalization of an estimated 1,800 FHTVs, in addition to the
production of approximately 1,000 trailers. All work performed
under the contract will be completed in Oshkosh, Wisconsin, with
deliveries occurring from 2015 to 2019.
“As the OEM, we will recapitalize the U.S. Army’s heavy vehicles
to like-new condition in order to achieve the required levels of
operational readiness,” said John Bryant, senior vice president of
defense programs at Oshkosh Defense. “Because the heavy fleet is
the logistics backbone for a spectrum of operations, Oshkosh has
worked with the Army to restore more than 12,000 heavy vehicles
since 1995 – providing soldiers with the latest safety features and
improved reliability for in-theater operations.”
Through recapitalization, heavily used vehicles are returned to
Oshkosh, stripped to the frame rails and completely rebuilt to
like-new condition. Recapitalized vehicles are assembled on the
same production line as new vehicles, and put through the same
extensive performance tests and inspection procedures as new
vehicles. The vehicles also receive the latest technology and
safety upgrades and are delivered with a new bumper-to-bumper
warranty.
With a 13-ton payload and multiple variants for a wide range of
operations, the HEMTT is the backbone of the Army’s logistics
fleet. Oshkosh’s latest configuration, the HEMTT A4, brings
significant improvements in power, maintenance and safety to the
battlefield, traversing even the most challenging environments
easier and more efficiently. The Oshkosh PLS supports the Army’s
distribution and resupply system by providing unparalleled
performance for loading, unloading and delivering ammunition and
other critical supplies needed in battle. The PLS carries a wide
range of cargo, and is specially designed to load and unload a
variety of flatrack or ISO compatible containers on its own. The
latest configurations of FHTV trucks also include air-conditioned
and armor-ready cabs, electrical upgrades, and anti-lock braking to
keep soldiers safe.
About Oshkosh Defense
Oshkosh Defense is a leading provider of tactical wheeled
vehicles and life cycle sustainment services. For decades Oshkosh
has been mobilizing military and security forces around the globe
by offering a full portfolio of heavy, medium, light and highly
protected military vehicles to support our customers’ missions. In
addition, Oshkosh offers advanced technologies and vehicle
components such as TAK-4® independent suspension systems, TerraMax®
unmanned ground vehicle solutions, Command Zone™ integrated control
and diagnostics system, and ProPulse® diesel electric and on-board
vehicle power solutions, to provide our customers with a technical
edge as they fulfill their missions. Every Oshkosh vehicle is
backed by a team of defense industry experts and complete range of
sustainment and training services to optimize fleet readiness and
performance. Oshkosh Defense, LLC is an Oshkosh Corporation company
[NYSE: OSK].
To learn more about Oshkosh Defense, please visit us at
www.oshkoshdefense.com.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and
marketer of a broad range of access equipment, commercial, fire
& emergency, military and specialty vehicles and vehicle
bodies. Oshkosh Corporation manufactures, distributes and services
products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®,
Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®. Oshkosh
products are valued worldwide by rental companies, concrete
placement and refuse businesses, fire & emergency departments,
municipal and airport services and defense forces where high
quality, superior performance, rugged reliability and long-term
value are paramount. For more information, please visit
www.oshkoshcorporation.com.
®, 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 the cyclical nature of the Company’s access
equipment, commercial and fire & emergency markets, which are
particularly impacted by the strength of U.S. and European
economies; the strength of the U.S. dollar and its impact on
Company exports, translation of foreign sales and purchased
materials; the expected level and timing of DoD and international
defense customer procurement of products and services and funding
thereof; risks related to reductions in government expenditures in
light of U.S. defense budget pressures, sequestration and an
uncertain DoD tactical wheeled vehicle strategy, including the
Company’s ability to successfully manage the cost reductions
required as a result of lower customer orders in the defense
segment; the Company’s ability to win a U.S. Joint Light Tactical
Vehicle production contract award and international defense
contract awards; the Company’s ability to increase prices to raise
margins or offset higher input costs; increasing commodity and
other raw material costs, particularly in a sustained economic
recovery; risks related to facilities expansion, consolidation and
alignment, including the amounts of related costs and charges and
that anticipated cost savings may not be achieved; global economic
uncertainty, which could lead to additional impairment charges
related to many of the Company’s intangible assets and/or a slower
recovery in the Company’s cyclical businesses than Company or
equity market expectations; projected adoption rates of work at
height machinery in emerging markets; risks related to the
collectability of receivables, particularly for those businesses
with exposure to construction markets; the cost of any warranty
campaigns related to the Company’s products; risks related to
production or shipment delays arising from quality or production
issues; risks associated with international operations and sales,
including compliance with the Foreign Corrupt Practices Act; the
Company’s ability to comply with complex laws and regulations
applicable to U.S. government contractors; the impact of severe
weather or natural disasters that may affect the Company, its
suppliers or its customers; cyber security risks and costs of
defending against, mitigating and responding to a data security
breach; and risks related to the Company’s ability to successfully
execute on its strategic road map and meet its long-term financial
goals. 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150619005603/en/
Oshkosh DefenseJennifer Christiansen, Vice President, Business
Development920-966-5635jchristiansen@defense.oshkoshcorp.com
Oshkosh (NYSE:OSK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Oshkosh (NYSE:OSK)
Historical Stock Chart
From Apr 2023 to Apr 2024