OSHKOSH, WIS. (October 27, 2009) – Oshkosh Airport Products Group, a division of Oshkosh Corporation (NYSE: OSK), today announced an order for 24 Oshkosh® Striker® Aircraft Rescue and Fire Fighting (ARFF) vehicles from the International Civil Aviation Organization (ICAO) on behalf of the Civil Aviation Authority of Pakistan (PCAA). All 24 vehicles will be manufactured and ready for shipment by September 2010. The total contract value is more than $16 million, to be paid for by the PCAA. The ordered vehicles include 16 (sixteen) Striker 1500s and eight Striker 3000s, four of which will be equipped with a high reach extendable turret (HRET).
“This is the first Oshkosh ARFF vehicle order for the Civil Aviation Authority of Pakistan. We are proud to add them as a customer and look forward to a long, healthy and successful relationship with this important customer,” said Tim Raupp, Oshkosh Corporation Airport Products Group president. “This order showcases the global acceptance of the Striker brand, and is a milestone order for the Striker product and our team at the Airport Products Group.”
The Oshkosh Striker features an all-wheel-drive axle configuration and proprietary technologies such as TAK-4® independent suspension, triple agent firefighting capabilities and Command Zone™ advanced electronics for enhanced maneuverability, firefighting power and reliability. All eight Striker 3000 models included in the order feature rear axle steering for enhanced maneuverability. The contract terms include on-site operational and maintenance training, auxiliary equipment and spare parts. “We look forward to providing a turnkey program for the PCAA that includes operational and maintenance training and a global support network,” added Raupp. “It’s really our people – the ones who engineer, manufacture and support the Striker – that give Oshkosh its major competitive edge.”
The Striker is among the most popular ARFF vehicles in the world. Its platform capabilities have garnered the vehicle overwhelming respect among a growing list of customers, including Chicago O’Hare International, Dubai International, Montreal Pierre Elliot Trudeau International, Dallas/Fort Worth International, Hartsfield-Jackson Atlanta International and Beijing Capital International. The Strikers will be stationed at civil airports throughout Pakistan, the largest of which is Jinnah International Airport in Karachi that handles six million passengers annually.
About Oshkosh Airport Products
The Oshkosh Airport Group, a division of Oshkosh Corporation, is a designer and builder of industry-leading airport firefighting and snow removal vehicles. Its flagship Striker® Aircraft Rescue and Fire Fighting (ARFF) vehicle and Oshkosh® H-Series™ snow removal chassis are known for their durability and superior performance and sold throughout the world. For more information, visit www.oshkoshairport.com.
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E- CO®, London® and IMT®. The Oshkosh brands are valued worldwide in businesses where high quality, superior performance, rugged reliability and long- term value are paramount. For more information, log on to www.oshkoshcorporation.com.
All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
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 consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the outcome of the formal protests of the FMTV award to the Company: the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; and the potential for increased costs relating to compliance with changes in laws and regulations. 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 duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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