Oshkosh Awarded $1.05 Bn to Supply M-ATV to Soldiers, Marines

(Oshkosh, Wis., June 30, 2009) -- The U.S. Department of Defense (DoD) announced today it has selected Oshkosh Corporation (NYSE:OSK) to supply MRAP All Terrain Vehicles (M-ATV) for its fighting forces. Oshkosh has received an initial delivery order from the U.S. Army Tank-automotive and Armaments Command (TACOM) Life Cycle Management Command (LCMC) for 2,244 M-ATVs valued at $1.05 billion, following months of government testing on multiple production-ready vehicles.

"We are proud that Oshkosh was chosen to provide its M-ATV offer to the the U.S. Armed Forces. Our M-ATV design combines the crew protection warfighters have come to expect in MRAP vehicles with the extreme mobility and durability needed to negotiate Afghanistan's mountainous off-road terrain," said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. "Due to the urgent need of our Armed Forces for a survivable and highly mobile vehicle, our Corporation's number one priority is meeting the Department's accelerated delivery schedule of the Oshkosh M-ATV. Oshkosh Corporation will put whatever resources are necessary to meet or exceed the government's delivery schedule. While we believe we can meet or exceed the government's current delivery requirements, we intend to enter into discussions with other manufacturers to determine if they can assist in the production of the Oshkosh M-ATV."

Bohn went on to say, "As we begin supplying our advanced, high-performance vehicles, our full-service aftermarket support network will be available with replacement parts, technical support, and repair or refurbishment services. If demands for technology or component upgrades should arise, our team is ready to deliver."

Andy Hove, Oshkosh Corporation executive vice president and president, Defense said, "Much has already been done to ensure we can meet the government's delivery schedule. In recognition of the urgent need, we began daily production of Oshkosh M-ATVs on our flexible manufacturing line a few weeks ago. We and our suppliers have already made significant investments in materials and are well positioned to accelerate our manufacturing capabilities."

Source : Oshkosh Corporation (NYSE: OSK)