OSHKOSH, Wis.–(BUSINESS WIRE)–Oshkosh Truck Corporation (NYSE:OSK) announced today that, with Ideal Innovations, Inc. (I-3), and Ceradyne, Inc., it had been awarded a firm-fixed-priced delivery order for six Mine Resistant Ambush Protected (MRAP) II test vehicles by the U.S. Marine Corps Joint MRAP program office. The vehicles are to be delivered in the first quarter of calendar year 2008 and will be used for further government testing of their Explosively Formed Penetrator (EFP) resistant capabilities. The BULL(a) is produced on an Oshkosh® MTVR (medium tactical vehicle replacement) chassis.
“Oshkosh Truck understands the complex mobility and protection requirements of armored vehicles, and with many companies competing for these contracts, it says volumes that Oshkosh was only one of two companies selected,” said Robert G. Bohn, Chairman and Chief Executive Officer, Oshkosh Truck Corporation. “The Oshkosh Truck armored vehicles are engineered to help protect U.S. troops against asymmetric warfare threats such as mines and IEDs, and we are proud to supply troops with armored vehicles to help keep them safer in the theater.”
The contract awarded to I-3, Oshkosh Truck and Ceradyne is worth $18,100,000, and is a developmental effort to purchase test vehicles and armor coupons for enhanced MRAP survivability and mobility tests. The MRAP II contracts will also contain ordering options for production quantities.
The MRAP II test vehicles and armor coupons will be delivered to Aberdeen Test Center. Manufacturing of these vehicles will be performed in Wixom, Mich., Costa Mesa, Calif., and Oshkosh, Wis., and work is expected to be completed July 2008. This contract was competitively procured. The Marine Corps Systems Command, Quantico, Va., is the contracting activity.
About Oshkosh Truck Corporation
Oshkosh Truck Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire and emergency and military vehicles and vehicle bodies. Oshkosh’s products are valued worldwide by rental companies, fire and emergency units, defense forces, municipal and airport support services, and concrete placement and refuse businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshtruckcorporation.com.
Forward-Looking Statements
This press release contains statements that the company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding the company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital spending and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “expects,” “intends,” “estimates,” “anticipates,” or “believes” and similar expressions 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 that 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 markets, the company’s ability to successfully integrate the JLG acquisition, the consequences of financial leverage associated with the JLG acquisition, risks related to reductions in government expenditures, the uncertainty of government contracts and the company’s ability to turnaround its Geesink Norba Group business. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission.
(a) The BULL is a trademark of Ideal innovations, Inc.
