Oshkosh Awarded $803.9 Million JLTV Order for Army, Marine Corps, Air Force and Navy
December 18 2019 - 10:59AM
Business Wire
Oshkosh Defense, LLC, an Oshkosh Corporation (NYSE: OSK)
company, announced today that the U.S. Army Contracting Command –
Warren has placed an $803.9 million order for 2,721 Joint Light
Tactical Vehicles (JLTVs). Additional orders from the U.S. Army
Contracting Command are anticipated within this fiscal year.
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Today’s announced order includes JLTVs
for the U.S. Army, U.S. Marine Corps, U.S. Air Force, and U.S.
Navy. (Photo: Business Wire)
This order includes JLTVs for the U.S. Army, U.S. Marine Corps,
U.S. Air Force, and U.S. Navy. It also includes vehicles for the
country of Montenegro via Foreign Military Sale (FMS). The
distribution of JLTVs ensures that multiple branches of the United
States military have the light tactical vehicle they need to
perform missions that support the National Defense Strategy.
“As the threats on today’s modern battlefield continue to
evolve, our Warfighters need a highly capable light tactical
vehicle that is uniquely suited for mission adaptability,” said
George Mansfield, vice president and general manager of joint
programs for Oshkosh Defense. “The JLTV can accommodate over 100
different mission package configurations without sacrificing
mobility or transportability.”
Today’s order also includes 30 JLTVs for the country of
Montenegro, among the first NATO allies to receive the vehicle.
About Oshkosh Defense
Oshkosh Defense is a global leader in the design, production and
sustainment of best-in-class military vehicles and mobility
systems. As a pioneer of combat-ready vehicle solutions, Oshkosh
develops and applies emerging technologies that advance troop
safety and mission success. Setting the industry standard for
sustaining fleet readiness, Oshkosh ensures every solution is
supported worldwide throughout its entire life cycle.
Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE:
OSK].
Learn more about Oshkosh Defense at www.oshkoshdefense.com
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we make innovative, mission-critical
equipment to help everyday heroes advance communities around the
world. Headquartered in Wisconsin, Oshkosh Corporation employs more
than 15,000 team members worldwide, all united behind a common
cause: to make a difference in people’s lives. Oshkosh products can
be found in more than 150 countries under the brands of JLG®,
Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Frontline™, Jerr-Dan®,
Oshkosh® Airport Products, CON-E-CO® and London™. For more
information, visit oshkoshcorp.com.
®, ™ All brand names referred to in this news release are
trademarks of Oshkosh Corporation or its subsidiary companies.
Forward Looking Statements
This news 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 news 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 the
cost of purchased materials; the expected level and timing of U.S.
Department of Defense (DoD) and international defense customer
procurement of products and services and acceptance of and funding
or payments for such products and services; the Company’s ability
to predict the level and timing of orders for indefinite
delivery/indefinite quantity contracts with the U.S. federal
government; 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 impact of any
DoD solicitation for competition for future contracts to produce
military vehicles; 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;
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; performance
issues with key suppliers or subcontractors; 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 associated with
international operations and sales, including compliance with the
Foreign Corrupt Practices Act; risks that an escalating trade war
and related tariffs could reduce the competitiveness of the
Company’s products; 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 data security threats and breaches; the Company’s
ability to successfully identify, complete and integrate
acquisitions and to realize the anticipated benefits associated
with the same; and risks related to the Company’s ability to
successfully execute on its strategic road map and meet its
long-term financial goals. All forward-looking statements speak
only as of the date of this news release. The Company assumes no
obligation, and disclaims any obligation, to update information
contained in this news 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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version on businesswire.com: https://www.businesswire.com/news/home/20191218005548/en/
Alexandra Hittle, Sr. Manager, Global Marketing and
Communications 920-410-1929 ahittle@defense.oshkoshcorp.com
Oshkosh (NYSE:OSK)
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