October 12, 2009 Appleton, Wis. --Pierce Manufacturing Inc., an Oshkosh Corporation (NYSE:OSK) Company and North America’s leading fire and rescue apparatus manufacturer, today announced it sold its 300th Pierce Ultimate Configuration (PUC) fire apparatus vehicle. Ordered by the Northeast Fire & Rescue Department of Humble, Tex., located in the greater Houston metro area, the Contender® by Pierce® custom pumper is scheduled for delivery in February 2010.
“Two-thirds of our department’s protection area is located within several northeast Houston subdivisions -- with many narrow streets and cul-de-sacs -- and the Contender PUC gives us excellent maneuverability without having to sacrifice equipment storage space," said Jim Rodgers, Fire Chief, Northeast Fire & Rescue Department in Humble, Tex. "We own one Contender already and are extremely pleased with its performance. This new Contender PUC is a logical choice for us as we look to meet the future needs of our community."
The PUC is an industry-changing multi-purpose response vehicle that is engineered to eliminate the need for a bulky pumphouse. The PUC also features a simplified two-step pump shift operation and redesigned pump panel for easier use. The entire pump system is located above the frame for easier and quicker service and maintenance. With a wheelbase for improved maneuverability (as short as 172-inches), the PUC also provides up to 500 cubic-feet of storage.
"The PUC has achieved a loyal following among a growing number of departments from across the country because of its ability to help them perform more effectively and efficiently," said Wilson Jones, Oshkosh Corporation executive vice president and president, Fire & Emergency. "Three hundred vehicles sold since its launch in 2007 is a significant milestone, and makes the PUC one of the most successful new product introductions in our company’s history.”
The PUC is available on all Pierce custom chassis in side and top mount configurations, as well as on 75-foot aluminum aerial ladders and custom Contender vehicles.
Pierce Manufacturing Inc., a subsidiary of Oshkosh Truck Corporation [NYSE: OSK], is the leading North American manufacturer of custom fire apparatus. Products include custom and commercial pumpers, aerials, rescue trucks, wildland trucks, minipumpers, elliptical tankers, and homeland security apparatus. In addition, Pierce designs its own foam systems and was the first company to introduce the Side Roll Protection system to fire apparatus. To learn more about Pierce, visit www.piercemfg.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®. 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.
®, ™ 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 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, which could lead to additional impairment charges related to many of the Company’s intangible assets; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the outcome of the formal protests of the FMTV award to the Company: 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; 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 in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectibility 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. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
