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May 24, 2010 – OSHKOSH, WIS. – The Fire and Emergency segment of Oshkosh Corporation (NYSE:OSK), is participating in the first Cabinet-level trade mission of President Obama’s administration to China and Indonesia. The May 15-25 trade mission is designed to advance the export of leading U.S. technologies in this rapidly growing region of the world.
“We are honored and indeed excited to be invited to join Commerce Secretary Locke and other representatives from 24 U.S. businesses on this important mission to China and Indonesia,” said Tim Raupp, Oshkosh Corporation senior vice president, executive director, International Operations - Fire and Emergency. “As leaders in clean vehicle technologies, we are promoting Oshkosh’s new Striker Aircraft Rescue and Fire Fighting vehicle (ARFF) and our other industry leading vehicles that are engineered and manufactured to compete in expanding global markets.”
“The companies on this trade mission are at the vanguard of a movement to meet the world’s clean energy needs,” said Commerce Secretary Locke. “As they grow their presence in fast-growing countries like China and Indonesia, companies like Oshkosh can help solve unprecedented energy and environmental challenges, while creating good paying jobs in America. That’s a win for everyone involved.”
The mission was launched on the heels of President Obama’s new National Export initiative, aimed at doubling U.S. exports in the next five years and a central piece of the Administration’s aggressive trade promotion strategies to create jobs. The delegation will make stops in Hong Kong, Shanghi, and Beijing, China and Jakarta, Indonesia.
“China and Indonesia are tremendously important international markets. Sales of Oshkosh and Pierce vehicles which are made here will positively impact the economy of the Fox Valley in Wisconsin,” said Jennifer Thompson, Oshkosh Corporation director for International Operations - Fire and Emergency. “We are continually developing distribution channels for Oshkosh’s products in place in this region of the world, and this mission offers us tremendous opportunities to both have that presence felt and to proudly represent U.S. business.”
Tim Raupp and Jennifer Thompson will be representing Oshkosh on the tour. The Oshkosh Corporation Fire and Emergency segment includes: Pierce Manufacturing, Oshkosh Airport Products, Medtec Ambulance, Jerr-Dan towing and recovery vehicles, Oshkosh Specialty Vehicles mobile medical units and Frontline Communications broadcast vehicles.
About Oshkosh Corporation Fire & Emergency Segment Known for safety, quality and leading edge technology, the Oshkosh Corporation Fire & Emergency segment designs and manufactures a full line of fire apparatus, mobile medical, broadcast communications, recovery and homeland security vehicles. Brands under the F&E Segment include: Pierce®, Oshkosh® Airport Products, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™ and SMIT™.
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®. 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 impact on revenues and margins of the planned decrease in M-ATV production rates; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and tight credit markets; the duration of the global recession, 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 procurement of products and services and funding thereof; risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine Corps contracts, the startup of the Family of Medium Tactical Vehicles contract and the uncertainty of government contracts generally; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; 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. 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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