| McNeilus Announces Major International Equipment Sale to Colombia |
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| Release Date: 12/15/2009 |
DODGE CENTER, Minn. (December 15, 2009) – McNeilus Companies, Inc., an Oshkosh Corporation (NYSE:OSK) company, announces today the sale of 70 concrete mixers and eight CON-E-CO batch plants to Concretos Argos SA, in Barranquilla, Colombia.
The 70 10.5-yard McNeilus® Standard Mixers are being manufactured at the McNeilus facility in Puebla, Mexico. The eight CON-E-CO 5-yard All Pro® Batch Plants are being built at CON-E-CO’s Blair, Neb., facility. McNeilus plans to deliver the entire order prior to mid-February 2010.
“McNeilus is honored to be selected as a major supplier to Colombia. We have always made it a priority to cultivate relationships with Latin American ready-mix producers because we believe that market is perfectly suited to our products,” said Mike Wuest, Oshkosh Corporation executive vice president and Commercial Group president. “Like our North American customers, Latin American customers depend on the quality, support and low cost of operation that McNeilus and CON-E-CO dealers offer.”
Like many Latin American countries, Colombia has invested in infrastructure to help kick-start its economy, and this equipment will be integral to the completion of a 1,000-kilometer highway running from Bogota to the northern port city of Santa Marta, named “The Route of the Sun” project.
According to Concretos Argos SA Maintenance Director Jesus Vinas, the Colombian government has initiated 25 projects around Colombia, which produced the need for more equipment. “We had to increase our mixer fleet in order to undertake this project.” Vinas said the total contract was for 85 mixers, of which McNeilus has already delivered the first 15.
About McNeilus: McNeilus
Companies, Inc., an Oshkosh Corporation [NYSE: OSK] company, is a
leading manufacturer of refuse truck bodies, concrete mixers and batch
plants. For more information on the company, go to www.mcneiluscompanies.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 Corp.
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®.
Oshkosh products are valued worldwide in businesses where high quality,
superior performance, rugged reliability and long-term value are
paramount. For more information, go 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 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.
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