| McNeilus Helps Seattle Take a Breath of Fresh Air |
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| Release Date: 5/21/2009 |
DODGE CENTER, Minn. (May 20, 2009) – McNeilus Truck and Manufacturing, an Oshkosh Corporation company (NYSE: OSK) and leading manufacturer of refuse truck bodies and concrete mixers, recently completed delivery of 144 new state-of-the-art compressed natural gas (CNG) refuse trucks to two companies, CleanScapes, Inc. and Waste Management of Seattle. The Seattle-based CNG refuse truck fleets are part of a statewide initiative to cut vehicle emissions in advance of the U.S. Environmental Protection Agency (EPA) 2010 emission standards for nitrogen oxides (NOx) and particulate matter (PM).
The McNeilus® CNG-powered refuse trucks offer lower fuel costs and reduced noise pollution, and they are six times cleaner than diesel-powered trucks, making them an economically and environmentally friendly alternative fuel solution for consumers.
“Seattle is a national leader in greenhouse gas emissions reduction and clean fuel technology,” said Chris Martin, president of CleanScapes. “When bidding on the Seattle Public Utilities contract, we felt it would be advantageous to propose a CNG fleet that would provide significant environmental benefits to the city by reducing emissions.”
CleanScapes’ 40 new McNeilus CNG-powered refuse trucks were placed into service in April and have been providing clean and efficient refuse collection to more than 64,000 residential and business customers in central and northeast Seattle.
“Our CNG fleet is being used mainly for residential collection and is providing a very welcome reduction of emissions and noise levels in some of the most densely populated urban areas of Seattle,” Martin said.
McNeilus recognizes the nationwide move toward environmentally friendly and economically viable alternative fuel use and offers turnkey solutions for haulers looking to migrate to CNG-powered vehicles. McNeilus is the only refuse truck manufacturer that builds CNG units entirely in-house, which leads to lower costs and better quality control. The company also has grant specialists available to help customers learn more about the benefits of CNG and will assist customers to navigate the process of identifying and securing funding for CNG fleet conversion.
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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