Oshkosh Defense Showcases High-Performance, Production-Ready JLTV at AUSA 2014

OSHKOSH, Wis.--(BUSINESS WIRE)--

Just weeks after successfully completing the U.S. Government's Production Readiness Review (PRR) for the Joint Light Tactical Vehicle (JLTV) program, Oshkosh Defense, an Oshkosh Corporation OSK company, will showcase its JLTV solution – the Light Combat Tactical All-Terrain Vehicle (L-ATV) – at the Association of the United States Army (AUSA) 2014 Annual Meeting and Exposition in Washington, D.C.

“Oshkosh Defense is ready for JLTV production,” said U.S. Army Major General (Retired) John Urias, executive vice president of Oshkosh Corporation and president of Oshkosh Defense. “Based on my work with the Department of Defense, it's clear that there is no substitute for experience when it comes to designing, testing, manufacturing and sustaining new military equipment. Lack of experience equates to risk for the program and the troops who depend on the equipment. We are very confident about producing high quality JLTVs on-schedule and on-budget because no other OEM has launched more successful tactical wheeled vehicle production programs than Oshkosh.”

As demonstrated at the PRR and past Government contract reviews for the JLTV program, Oshkosh is ready to produce world class JLTVs on its established production line. In 2013, the company produced its JLTV EMD prototypes on an active and proven production line, right alongside its MRAP All-Terrain Vehicle (M-ATV), Family of Heavy Tactical Vehicles (FHTV), Family of Medium Tactical Vehicles (FMTV) and other platforms. Using lean processes, flexible assembly lines, an experienced workforce and rigorous quality checks, Oshkosh has successfully delivered a full range of military vehicles for decades.

The Oshkosh L-ATV's lightweight, compact design leverages 10 years of research and development, as well as lessons from decades of field operating experience. L-ATV merges key design elements of highly survivable combat vehicles and off-road tactical vehicles to operate in a range of threat levels and terrains including:

• The Oshkosh TAK-4i™ intelligent independent suspension system is the next generation of the world's most advanced, combat-proven suspension system, TAK-4^®. The TAK-4i system provides Warfighters with unprecedented maneuverability and a smoother ride to reduce fatigue after traveling the world's toughest terrains.
• The Oshkosh Core1080™ crew protection system is a multi-faceted, fully-integrated survivability system that applies advanced components and materials to save lives. The Core1080 approach has been proven on multiple vehicle platforms and credited for saving thousands of troops' lives over the past decade during missions outside-the-wire.
• Whether traveling over hazardous terrain or unpaved roads, the L-ATV's digitally-controlled engine maintains steady, fuel-efficient power without sacrificing the acceleration and cruising speed that Soldiers and Marines need in high-threat environments. The vehicle's power-to-weight ratio is optimized to provide superior acceleration, mobility and speed on grade capability.
• L-ATV's Net Ready systems integration brings critical network and computing capabilities to a broader range of ground missions. L-ATV's advantage is based on a unique combination of vehicle OEM expertise and extensive in-house C4 and systems capabilities at Oshkosh. L-ATV was designed from day one as a “tactical vehicle system” that optimizes the user experience and ergonomics while maximizing overall system performance.

Oshkosh Defense's JLTV solution will be on display at AUSA booth #1925. Oshkosh Defense leadership will be available to discuss the company's vehicles, a variety of sophisticated on-board technologies including an Interactive Electronic Technical Manual (IETM), vehicle Health Management System (HMS) as well as life cycle sustainment services.

About Oshkosh Defense

Oshkosh Defense is a leading provider of tactical wheeled vehicles and life cycle sustainment services. For more than 90 years, 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 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®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, please visit www.oshkoshcorporation.com.

®, TM All brand names referred to in this news release are trademarks of 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 pace of U.S. and European economic recoveries; the strength of emerging market growth and projected adoption rate of work at height machinery; the expected level and timing of DoD and international defense customer procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures, sequestration and an uncertain DoD tactical wheeled vehicle strategy, including the Company's ability to successfully manage the cost reductions required as a result of lower customer orders in the defense segment; the Company's ability to win a U.S. Joint Light Tactical Vehicle production contract award; 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 consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; the duration of the ongoing 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; 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 foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the Company's ability to comply with complex laws and regulations applicable to U.S. government contractors; the impact of severe weather or natural disasters that may affect the Company, its suppliers or its customers; the impact of cyber security risk 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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