U.S. Army Orders Joint Light Tactical Vehicles, Installed Kits and
Related Support
OSHKOSH, Wis.--(BUSINESS WIRE)--
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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Source: Oshkosh Corporation