Oshkosh Defense to Produce Its First Global HET
ABU DHABI, United Arab Emirates & OSHKOSH, Wis. - Monday, February 28th 2011 [ME NewsWire]
(BUSINESS WIRE)-- Al Jaber Group, a privately owned, multi-faceted group of companies based in Abu Dhabi, has selected Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK), to provide the Global Heavy Equipment Transporter (HET) vehicle to support United Arab Emirates Armed Forces. Oshkosh will fulfill Al Jaber’s initial purchase of Global HETs by early 2012.
“Our goal is to provide the UAE with the world’s most powerful military vehicles as part of an overall logistics and fleet management solution,” said Obaid Khaleefa Jaber Al Murri, Chairman, Al Jaber Group. “Our focus is on quality and long-term performance, and Oshkosh was the clear choice. They have a successful history of designing, manufacturing and sustaining heavy-duty vehicles for the U.S. Army and militaries around the world.”
The new Global HET from Oshkosh Defense is a high-performance 6x6 transport vehicle with a 70 metric ton payload capability. With a powerful 700-horsepower engine, the Global HET is able to transport a main battle tank, armored vehicles, construction equipment and more. By transporting large-scale equipment on the Global HET, the military can reduce the wear on equipment and crew fatigue that typically occurs over long distances. Working closely with the Al Jaber Group, the new Global HET was designed to meet the requirements of the UAE Armed Forces and was rigorously tested and evaluated in extreme desert conditions. The terms of the agreement were not disclosed.
“We are pleased to partner with the Al Jaber Group to deliver and support the Oshkosh Global HET vehicle in the UAE,” said Serge Buchakjian, senior vice president and general manager of International Programs for Oshkosh Defense. “We are committed to serving the Middle East region, and our relationship and initial sale to Al Jaber Group will allow Oshkosh vehicles to play an important role in supporting the UAE’s Armed Forces programs.”
About Oshkosh Defense
Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit 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?, Medtec?, Jerr-Dan?, Oshkosh Specialty Vehicles, Frontline™, SMIT™, 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, visit www.oshkoshcorporation.com.
?, ™ 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 impact on revenues and margins of the decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness and tight credit markets; the Company’s ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, 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 equity market expectations; the expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof, especially in an environment when the U.S. government is operating under a Continuing Resolution budget action; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; the potential for commodity and other raw material costs to rise sharply, particularly in a future economic recovery; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; 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 delays arising from supplier quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to work stoppages and other labor matters; the potential for disruptions or cost overruns in the Company’s global enterprise system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; and risks related to disruptions in the Company’s distribution networks. 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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Contacts
Oshkosh Defense
Jennifer Christiansen
920.420.7581
jchristiansen@defense.oshkoshcorp.com
Al Jaber Group
Imad S. Al Najjar
+971 2 555 4300
imad.najjar@aje.ae
