Oshkosh Truck, Ceradyne and Ideal Innovations Team Up to Protect Troops and Save Lives from Increasingly Prevalent EFP Attacks
July 27 2007 - 7:58AM
Business Wire
Oshkosh Truck Corporation (NYSE:OSK), Ceradyne, Inc. (NASDAQ:CRDN)
and Ideal Innovations, Inc. (I-3) announced today an agreement to
further develop, produce and market the Bull� armored vehicle. The
Bull is intended to address the increasing need for protection from
improvised explosive devices (IED), mine blasts and high-threat,
explosively formed projectiles (EFP) and will be built on a
combat-proven Oshkosh Truck chassis. The Bull advanced technology
armored solution, conceived by I-3 in 2005 and developed with
Ceradyne in 2006, has been tested by the Army Test Center,
Aberdeen, Md., and demonstrated to be capable of protecting vehicle
occupants against IED, EFP and mine blast threats. It is designed
to meet current IED threats, and is intended to withstand the
increasingly prevalent and higher EFP threats now faced by the U.S.
military. �It is our mission to help protect the brave men and
women of the U.S. military against the most dangerous threats, and
together with Ceradyne and I-3, we intend to build the best
vehicles to protect our soldiers against the higher threat weapons
used by our enemies,� said Robert G. Bohn, Oshkosh Truck chairman,
president and chief executive officer. �We believe the Bull will be
a great addition to Oshkosh Truck�s long history of setting the
standard for serving our troops in the field.� Joel P. Moskowitz,
chief executive officer for Ceradyne, said, �This team will bring
the United States military an advanced, integrated armor solution
and survivability system to our soldiers and Marines. The Oshkosh
Truck chassis, which will serve as the primary mobility platform
for the Bull, has already been used successfully in combat. When
combined with the Bull�s special armor, it provides a highly
survivable mobile armored vehicle that will serve our military
well.� Bob Kocher, chief executive officer of I-3 added, �We
believe that the Bull�s integrated cab and advanced armor produced
by Ceradyne combined with Oshkosh Truck�s highly capable and
reliable chassis, and both companies' extensive production
capabilities, will provide our deployed soldiers effective
protection from IEDs and EFPs.� Leveraging the production expertise
and capacity of Oshkosh Truck and the armor design and protection
provided by Ceradyne and I-3, the three companies can offer the
Bull solution on a variety of vehicle platforms, in addition to the
Oshkosh Truck chassis. Even after undergoing an attack, the Bull is
expected to maintain substantial off-road mobility, which makes it
an ideal vehicle for multiple uses in theater such as troop
transport, ambulatory rescue and cargo delivery. Oshkosh Truck,
Ceradyne and I-3 are finalizing plans for platform options and
supply of critical components. The three companies intend to offer
platform options that improve on current vehicle capabilities as
solutions for the Department of Defense in the near future. About
Oshkosh Truck Corporation Oshkosh Truck Corporation is a leading
designer, manufacturer and marketer of a broad range of specialty
access equipment, military, fire and emergency and commercial
vehicles and vehicle bodies. Oshkosh�s products are valued
worldwide by rental companies, defense forces, fire and emergency
units, 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.
About Ceradyne, Inc. Ceradyne develops, manufactures and markets
advanced technical ceramic products and components for defense,
industrial, automotive/diesel and commercial applications.
Additional information about the Company can be found at
www.ceradyne.com. About Ideal Innovation, Inc. Ideal Innovations,
Inc. (I-3) is ranked as one of the fastest growing companies in the
US. I-3 is an inventions, and consulting firm providing real-time
solutions to government and industry�s clients in the areas of
identity management, forensics, information systems, science and
technologies, and survivability systems. Forward-Looking Statements
For Oshkosh Truck 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 execute on
the Bull� teaming agreement, risks related to reductions in
government expenditures and the uncertainty of government
contracts. Additional information concerning these and other
factors is contained in the Company's filings with the Securities
and Exchange Commission. For Ceradyne, Inc. Except for the
historical information contained herein, this news release contains
forward-looking statements regarding future events and the future
performance of Ceradyne that involve risks and uncertainties that
could cause actual results to differ materially from those
projected. Words such as �anticipates,� �believes,� �plans,�
�expects,� �intends,� �future,� and similar expressions are
intended to identify forward-looking statements. These risks and
uncertainties are described in the Company�s Annual Report on Form
10-K for the fiscal year ended December 31, 2006, and its Quarterly
Reports on Form 10-Q, as filed with the Securities and Exchange
Commission.
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