“Oshkosh Defense Awarded $801 Million Delivery Order for New and ... - MSN Money” plus 2 more |
- Oshkosh Defense Awarded $801 Million Delivery Order for New and ... - MSN Money
- Brush truck pull a success - Fort Morgan Times
- Kingsway Financial Services announces consolidation of its Canadian ... - Biloxi Sun Herald
Oshkosh Defense Awarded $801 Million Delivery Order for New and ... - MSN Money Posted: 29 Sep 2009 10:48 AM PDT Oshkosh Corporation OSK, announced today that its Defense division has received a delivery order valued at $801 million from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for more than 2,450 new and recapitalized Heavy Expanded Mobility Tactical Trucks (HEMTT) and Palletized Load System Trailers (PLST). Work is expected to be completed by May 2011. The delivery order calls for Oshkosh Defense to produce more than 1,190 new next-generation HEMTT A4s, more than 180 new HEMTT A2s and more than 80 PLSTs for the U.S. Army. Oshkosh also will deliver more than 1,020 recapitalized HEMTT A4s. "As an industry-leading designer and manufacturer of tactical wheeled vehicles and the Army's Family of Heavy Tactical Vehicles (FHTV), Oshkosh continues to deliver high-performance vehicles and respond to our customer's needs in a timely manner," said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. "Our recapitalization services complement our robust manufacturing capabilities and ultimately provide like-new vehicles to our soldiers at a lower cost to the taxpayer." Oshkosh has produced more than 67,000 military-class vehicles at its facilities, including more than 30,000 FHTV vehicles. Oshkosh has the available capacity, highly skilled workforce and proven manufacturing capability to deliver this FHTV order as well as vehicles for other Army and Defense programs, including the MRAP All Terrain Vehicle (M-ATV) and Family of Medium Tactical Vehicles (FMTV). The Oshkosh® HEMTT's 13-ton payload and off-road capabilities make it the backbone for the U.S. Army's logistics fleet. Since its introduction in 1985, the HEMTT has helped keep the Army on the move during major conflicts such as Operations Desert Storm and Iraqi Freedom. Improvements to create the HEMTT A4 include: a fully air-conditioned and armor-ready cab; more powerful drivetrain; improved suspension; and other structural changes to make installation of add-on armor in the field quicker and easier. Built to load and unload a variety of cargo, the PLS is designed to meet the U.S. Army's distribution and resupply needs in even the most challenging military missions. The PLS truck and trailer form a self-contained system that reduces the need for forklifts or other material-handling equipment. Additionally, they both carry a demountable cargo bed, also known as a flatrack that features a 16.5-ton payload capacity. Through Oshkosh's remanufacturing and recapitalization services, heavily used vehicles are returned to Oshkosh, stripped to their frame rails, completely rebuilt to like-new condition and upgraded to the new A4 configuration. Recapitalized vehicles are considered to have zero miles and zero hours, at a significantly reduced cost compared to new vehicles. These vehicles are put through the same road tests, performance tests and inspection procedures as new vehicles before being delivered with the same bumper-to-bumper warranty provided for new HEMTTs. About Oshkosh Defense Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit www.oshkoshdefense.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™, 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, 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. Oshkosh Corporation Copyright 2009 Business Wire This posting includes an audio/video/photo media file: Download Now |
Brush truck pull a success - Fort Morgan Times Posted: 28 Sep 2009 08:47 AM PDT Like everything else, truck and tractor pulls have suffered in the recession — but that did not dampen the spirits at the Morgan County Fairgrounds on Saturday. This was the second year the National Sled Pullers Association held a competition as part of Brush's Oktoberfest, and people filled the south grandstand, which is where the choice seats are situated. Some other events canceled this year, said Dallas Schneider, who works with 26 different organizations to put on pulls. That's hurt the sport overall, but organizers did the best they could with what they had, he said. "You guys have done a really wonderful job," Schneider said to the gathered competitors and organizers of the Brush event.NSPA will never put on a halfway event, said Ron Greene, who was one of the founders of the organization along with Clint Cannon and Mike Sulley in 2007. Ron has been a puller since 1975, and loves the automotive world, as do his sons and daughter, said Gayle Greene, his wife. "It's a family affair," she said. That tends to be the case with those who do the sled pulls, Gayle said. This was the last event of the sled pull season, and the last chance for the competitors to win some points, she said. At a banquet in October, the association will honor those who earned the most points in the total of all events, Gayle said. NSPA holds competitions in Colorado, Nebraska and Kansas, she said. There were about 50 "hooks" at the fairgrounds, which is how the pullers count the number of pulls. A hook is when a truck hooks up to the sled. There are seven different classes of weight in the events, starting with stock trucks, which are just standard trucks off the street, and going up to the big monsters with 2,000 horsepower, Gayle said. There are also classes for engines which use diesel, gasoline and alcohol, she said.Among the local residents competing Saturday were Greg Dardanes of Brush, Sulley and a few from the Greene family. Dardanes said he became interested in the sport after his brother said he was going to take a tractor down to a pull. He was skeptical and said he would come down to tow the tractor home after his brother blew the engine, but the brother won second place. That prompted Dardanes to buy a pickup and he's been competing for nine years now, he said. At the event in Brush, he was using his 1966 GMC truck, which has taken second place before, Dardanes said. However, at one contest he pulled the sled 319 feet with it, which was a pull-off for third place, and that actually beat the first-place distance that day, he said."It's a really challenging sport," Dardanes said. Sometimes the victory comes down to one or two inches and reading the exact difference is important, he said. The judges use a laser device for the best measurements, Dardanes said. The condition of the track is also important, and that was a challenge Saturday, he said. The main arena at the fairgrounds was still soaked from recent rains, Gayle said, which meant using a road grader to scrape the mud back to firm ground, and equipment kept going during the event to keep the track clean. Conditions were pretty good considering where they started, Dardanes said. He gave a big thank you to the city of Brush for helping with the grader to make it possible. One of the spectacular vehicles at the pull was Ron's "Thunderous Cyclops," a scaled-up model of an ATV, which has a 1,200-horsepower engine and six-foot tires. Ron said he bought it at a sale in Las Vegas, Nev., because it is one of a kind and there will never be another. It is the largest and most powerful ATV in the world. The lure of competition is what brings the contestants and the crowd to the pulls, Ron said. It is also family-oriented entertainment. However, it is also about the adrenaline rush, Dardanes said. "It's just amazing how much power is involved," he said. Winning is difficult, but pullers are persistent people who won't give up, Dardanes said. When they do win, that difficulty makes it satisfying, he said. Saturday night was satisfying for the local pullers. Not only did Ron take third place in the modified four-wheel class, but he won the most points for the season in his class, Gayle said. Tyler Greene took fifth place in the modified four-wheel division. Zachary Greene took first place in the pro-stock class at the fairgrounds, and second place for the season on points in his class, she said. Dardanes took third place in pro-stock for the night and third place in his class for the season. However, Dardanes was tied with the Greene's daughter, Nicole Ley, and has to do a pull-off for that third place for the season, Gayle said. Sulley of Wiggins took first place in the modified semi class, and first place overall in the class on points. He also took second place in the two-wheel-drive class and first place on overall points in that class. Gary Colvin of Keenesburg took first place in the gas street stock class at the Brush event. Kyle Strauburger of Ellsworth, Neb., won first place in the diesel work stock class. Tammy Royal of Wheat Ridge took first place in the street stock class. Jefferson Broady of Divide earned first place in the super street class and had the longest pull of the night at 347 feet, two inches. Darrell Johnston of Erie took first place for the semi class. Bill Schwarz of Oakley, Kan., was first in the modified four-wheel class. Warren Scheffert of Trenton, Neb., placed first in the two-wheel-drive class. Greg Urban of York, Neb., won first place in the tractor multi-engine class. This posting includes an audio/video/photo media file: Download Now |
Kingsway Financial Services announces consolidation of its Canadian ... - Biloxi Sun Herald Posted: 23 Sep 2009 05:18 AM PDT It is expected that the consolidation of Kingsway's Canadian operations will contribute to a reduction in the Company's operating expenses. In addition, JEVCO will put even greater focus on the products where it already has proven expertise, namely: non-standard automobile, motorcycles, recreational vehicles, and surety, as well as commercial auto and property. About the Company Kingsway Financial Services Inc. ("Kingsway" or "the Company") focuses on non-standard automobile insurance in North America. Kingsway's primary businesses are the insuring of automobile risks for drivers who do not meet the criteria for coverage by standard automobile insurers; specialized markets of recreational vehicles such as motorcycles, ATVs and snowmobiles; and commercial automobile insurance. The Company operates through wholly-owned insurance subsidiaries in Canada and the U.S., which it is currently consolidating to reduce overhead and strengthen its competitive position. The common shares of Kingsway Financial Services Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange, under the trading symbol "KFS". Forward-Looking Statements This press release includes forward-looking statements that are subject to risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "intend", "forecast" or similar words are used to identify such forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Kingsway. A number of factors could cause actual events, performance or results to differ materially from the events performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see Kingsway's securities filings, including its 2008 Annual Report under the heading Risk Factors in the Management's Discussion and Analysis section. The securities filings can be accessed on the Canadian Securities Administrators' website at www.sedar.com, and on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov or Kingsway's website at www.kingsway-financial.com. Kingsway disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE Kingsway Financial Services Inc. This posting includes an audio/video/photo media file: Download Now |
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