| McNeilus Hybrid Refuse Truck Displayed at Hybrid on the Hill Day |
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| Release Date: 6/12/2009 |
Photo provided by CALSTART
DODGE CENTER, Minn. (June 12 2009) – McNeilus Truck and Manufacturing, Inc., an Oshkosh Corporation company (NYSE: OSK) and leading manufacturer of refuse truck bodies and concrete mixers, was proud to be a part of Hybrid on the Hill Day in Washington, D.C. The event took place on June 11, 2009, and was designed to showcase the latest in hybrid truck research and technology. On display at the event was a McNeilus® refuse body mounted on a Peterbilt diesel-electric hybrid chassis.
A variety of truck and systems manufacturers met on Capitol Hill to highlight the latest hybrid options in commercial vehicles by displaying a variety of hybrid equipment such as buses, medium-duty delivery trucks, utility vehicles and big rigs.
The day-long event was organized by clean transportation group CALSTART and its Hybrid Truck Users Forum (HTUF). A briefing about the future of the industry by leaders in hybrid technology development also took place at the Capitol’s reflecting pool and was attended by members of Congress whose districts serve as home to the manufacturers and supply chains for the hybrid truck industry.
“McNeilus is proud to be associated with HTUF and its efforts in bringing visibility to green innovations in the trucking industry,” said Mike Wuest, Oshkosh Corporation executive vice president and Commercial Group president. “McNeilus has been a pioneer in environmentally sustainable vehicle solutions with our compressed natural gas-powered refuse trucks, and we are honored to have a McNeilus body displayed on a hybrid chassis at an event that does so much to further the greening of our industry.”
A high-tech truck convoy, including the McNeilus hybrid unit, showcased fuel-saving hybrid technology for the nation’s biggest vehicles. Duke University also unveiled a new study finding that hybrids provide the U.S. a strategic opportunity in competitiveness, green jobs and reduced pollution.
“We were exceptionally pleased with the turnout and the reception for hybrid trucks from policymakers,” said Bill Van Amburg, senior vice president of CALSTART. “Hybrid trucks mean reduced oil use, cleaner air and American jobs, and we feel our message that hybrids deserve support to grow faster is being heard in the Capitol.”
Oshkosh Corporation, McNeilus’ parent company, is an HTUF member and a leader in the development of next-generation hybrid propulsion systems in heavy trucks. ProPulse® is an unmatched hybrid electric drive system that dramatically improves fuel economy, reduces emissions, improves life cycle costs, and serves as an on-board AC generator with enough output to power an airfield or hospital.
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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