Oshkosh Corporation News - May 2009

Company Oshkosh Corporation
Date 11.05.2009

OSHKOSH, Wis.–(BUSINESS WIRE)–May. 11, 2009– Oshkosh Corporation (NYSE:OSK) announced that it has requested a retraction from Gannett Co., Inc., publisher of the Oshkosh Northwestern newspaper, for portions of an article that appeared this morning reporting that a “contract awarded on May 1 assures Oshkosh a contract to produce a minimum of 2,080 of its M-ATV . . .” This information is incorrect.

On April 30, 2009, Oshkosh Corporation announced that its Defense division was awarded an indefinite delivery/indefinite quantity (IDIQ) contract with the U.S. Army Tank-automotive and Armaments Command (TACOM) for the purchase of three additional production-ready Oshkosh® MRAP All Terrain Vehicles (M-ATV) for further military testing. The contract is the same one from which the government could award full production of an anticipated 2,080 – 10,000 M-ATVs for production later this year to one remaining competitor.

The company regrets any inconvenience due to this erroneous article.

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®, BAI, Oshkosh Specialty Vehicles, Frontline, SMIT, Geesink, Norba, Kiggen, 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.

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 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 and its adverse impact on the Company’s share price, which could lead to additional impairment charges related to many of the Company’s intangible assets; 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; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; the Company’s ability to close the sale of its Geesink business on its expected timetable; 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

Source: Oshkosh Corporation

Oshkosh Corporation
Financial:
Patrick Davidson
Vice President, Investor Relations
920.966.5939
or
Media:
Ann Stawski
Vice President, Marketing Communications
920.966.5959

Contact

Oshkosh Corporation
P.O. Box 2566 Oshkosh
WI 54903-2566
United States
  • +1 920-235-9150