U.S. Army Orders Joint Light Tactical Vehicles,
Installed Kits and Related Support
Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK)
company, announced today that the U.S. Army has placed an order for
the Joint Light Tactical Vehicle (JLTV) program including 657
vehicles, 2,977 installed kits and related support. The order,
which will serve both the U.S. Army and Marine Corps, is valued at
more than $243 million.
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The next generation Oshkosh JLTV is a
''network on wheels'', able to serve as a mobile command center in
future missions. (Photo: Business Wire)
“The JLTV program is providing our Soldiers and Marines with the
world’s most capable light tactical vehicle,” said Wilson R. Jones,
Oshkosh Corporation president and chief executive officer. “The
Oshkosh JLTV will be the platform our troops depend on to keep them
safe as they perform future military operations
outside-the-wire.”
The JLTV program remains a top priority for the Department of
Defense, filling a critical capability gap for the U.S. Army and
Marine Corps by replacing a large portion of the legacy uparmored
HMMWV fleet with a modern light protected vehicle. The JLTV
provides unprecedented protection and off-road mobility, as well as
transportability via air, land and sea. The JLTV production
contract calls for Oshkosh to deliver a total of nearly 17,000
vehicles, as well as kits and services over an eight-year period
with first vehicle delivery in October 2016. The vehicles, trailers
and installed kits for this order will be delivered by first
quarter FY18.
The Oshkosh JLTV
The Oshkosh JLTV delivers the latest in automotive technologies,
the Oshkosh Core1080™ crew protection system, and the Oshkosh
TAK-4i™ intelligent independent suspension system to provide the
ultimate combination of protection and mobility. 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 is scalable and adaptable to future missions and
unknown threats for decades to come.
U.S. Soldiers and Marines can expect:
- A vehicle 1/3 smaller and 1/3 lighter
than the Oshkosh MRAP All-Terrain Vehicle,or M-ATV
- Off-road speeds 70 percent faster than
today’s gold standard, the Oshkosh M-ATV
- A modular design that can be quickly
and efficiently outfitted for a full range of missions
- Banks® 866T, 6.6 Liter Turbo Diesel
Engine, based on GM® Duramax® architecture
- Fully transportable by air or sea, such
as C130, CH-53 and CH-47
- Network ready and VICTORY
compliant
- Superior ride quality
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 collection 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.
GM and DURAMAX are registered trademarks owned by General
Motors, LLC. Banks is a registered mark owned by Gale Banks. All
other trademarks are owned by 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 and construction seasons; the Company’s estimates of
access equipment demand which, among other factors, is influenced
by customer historical buying patterns and rental company fleet
replacement strategies; 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 U.S.
Department of Defense (“DoD”) and international defense customer
procurement of products and services and funding thereof; the
Company’s ability to utilize material and components which it has
committed to purchase from suppliers; risks related to reductions
in government expenditures in light of U.S. defense budget
pressures, sequestration and an uncertain DoD tactical wheeled
vehicle strategy; 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/20160323005688/en/
For more information, contact:Financial:Oshkosh
CorporationPatrick DavidsonVice President of Investor
Relations920.966.5939orNational Media:Oshkosh
CorporationJohn DaggettVice President of Corporate
Communications920.233.9247orDefense Media:Oshkosh
DefenseJennifer ChristiansenVice President of Business
Development920.966.5635
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