Oshkosh’s JLTV is the Next Generation Light
Vehicle Designed to Move and Protect Our Troops in Future
Missions
The U.S. Army Tank-automotive and Armaments Command (TACOM) Life
Cycle Management Command (LCMC) has awarded Oshkosh Defense, LLC,
an Oshkosh Corporation (NYSE: OSK) company, a $6.7 billion firm
fixed price production contract to manufacture the Joint Light
Tactical Vehicle (JLTV). The JLTV program fills a critical
capability gap for the U.S. Army and Marine Corps by replacing a
large portion of the legacy HMMWV fleet with a light tactical
vehicle with far superior protection and off-road mobility. During
the contract, which includes both Low Rate Initial Production
(LRIP) and Full Rate Production (FRP), Oshkosh expects to deliver
approximately 17,000 vehicles and sustainment services.
“Following a rigorous, disciplined JLTV competition, the U.S.
Army and Marine Corps are giving our nation’s Warfighters the
world’s most capable light vehicle – the Oshkosh JLTV,” said
Charles L. Szews, Oshkosh Corporation chief executive officer.
“Oshkosh is honored to be selected for the JLTV production
contract, which builds upon our 90-year history of producing
tactical wheeled vehicles for U.S. military operations at home and
abroad. We are fully prepared to build a fleet of exceptional JLTVs
to serve our troops in future missions.”
The JLTV program provides protected, sustained and networked
light tactical mobility for American troops across the full
spectrum of military operations and missions anywhere in the world.
The JLTV production contract awarded to Oshkosh includes a base
contract award and eight option years covering three years of LRIP
and five years of FRP. Oshkosh will begin delivering vehicles
approximately ten months after contract award.
“Because of the JLTV program, our Soldiers and Marines are
getting a level of technical performance that no other vehicle can
match,” said U.S. Army Major General (Retired) John M. Urias,
executive vice president of Oshkosh Corporation and president of
Oshkosh Defense. “Our JLTV has been extensively tested and is
proven to provide the ballistic protection of a light tank, the
underbody protection of an MRAP-class vehicle, and the off-road
mobility of a Baja racer. The Oshkosh JLTV allows troops to travel
over rugged terrain at speeds 70% faster than today’s gold
standard, which is our Oshkosh M-ATV. Looking to future
battlefields, we know that our troops will face a myriad of
threats. Soldiers and Marines can be assured that the highly
capable Oshkosh JLTV will perform the mission.”
The JLTV Family of Vehicles is comprised of two variants, a two
seat and a four seat variant, as well as a companion trailer
(JLTV-T). The two seat variant has one base vehicle platform, the
Utility (JLTV-UTL). The four seat variant has two base vehicle
platforms, the General Purpose (JLTV-GP) and the Close Combat
Weapons Carrier (JLTV-CCWC).
The Oshkosh JLTV combines the latest in automotive technologies
with the Oshkosh CORE1080 crew protection and TAK-4i™ independent
suspension systems to provide next generation performance. In
designing its JLTV, Oshkosh leveraged its extensive experience
producing and sustaining more than 150,000 heavy, medium and
protected MRAP vehicles for the U.S. and its allies.
The Oshkosh JLTV Journey
2005: Oshkosh begins developing its next generation TAK-4i
independent suspension system 2007: Oshkosh develops the Light
Combat Tactical Vehicle (LCTV) technology demonstrator 2010: The
Oshkosh LCTV is the first military-class vehicle to complete the
Baja 1000 desert off-road race 2011: Oshkosh evolves its design and
introduces the Light Combat Tactical All-Terrain Vehicle (L-ATV),
the platform for the Oshkosh JLTV solution 2012: U.S. Government
awards Oshkosh one of three JLTV Engineering and Manufacturing
Development (EMD) contracts in August 2013: Oshkosh builds its JLTV
EMD prototypes on a warm production line and delivers them to the
U.S. Army for EMD testing and evaluation 2014: During EMD, Oshkosh
successfully completes all requirements, testing and evaluation
2015: Oshkosh responds to the U.S. Government’s JLTV Production
Request for Proposal in February and Request for Final Proposal
Revisions in July 2015: Oshkosh is awarded the JLTV Production
contract
“Developing our Oshkosh JLTV solution has been an incredible
journey,” said Szews. “For the past decade, our entire team has
been focused on putting our troops behind the wheel of the world’s
most capable light vehicle. It’s our relationship with our troops
and our deep appreciation for their service that inspires our best
work every day. I offer my sincere thanks to our employees and
suppliers for their years of dedication to reach this historic
day.”
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, visit
www.oshkoshcorporation.com.
®, ™ 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 presentation, 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 Company’s estimates of access equipment demand; 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 JLTV production contract award and finalize international
contracts for a significant quantity of M-ATVs, with sales
beginning in fiscal 2016; 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; the impact of severe weather
or natural disasters that may affect the Company, its suppliers or
its customers; 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; cybersecurity 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150825006352/en/
Oshkosh CorporationFinancial:Patrick DavidsonVice
President of Investor Relations, Oshkosh
Corporation920.966.5939orNational Media:John
DaggettVice President of Corporate Communications, Oshkosh
Corporation920.233.9247orDefense Media:Jennifer
ChristiansenVice President of Business Development, Oshkosh
Defense920.966.5635
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