OSHKOSH NAMES URIAS PRESIDENT OF DEFENSE SEGMENT
Retired U.S. Army major general with 31 years of military service joins Oshkosh
OSHKOSH, Wis. (Oct. 7, 2011) – Oshkosh Corporation (NYSE: OSK) announced today that John M. Urias has joined the company as executive vice president and president, Oshkosh Defense. Urias will lead all aspects of the company’s global defense segment, including all tactical wheeled vehicle programs, new product development, vehicle life-cycle sustainment and aftermarket services.
“We are pleased to welcome John to Oshkosh Corporation to lead our Defense segment,” said Charlie Szews, Oshkosh Corporation president and CEO. “John brings more than 31 years of distinguished military service to the helm of our Defense business. His extensive military and corporate experience will guide the continued success of our current military programs, while fostering strategies for future military programs around the globe.”
Urias is a former Army major general. Before retiring from the Army, he served as commanding general of the Joint Contracting Command – Iran/Afghanistan (JCC-I/A) in support of Operation Iraqi Freedom and Operation Enduring Freedom. Through his leadership, he was credited with establishing a highly successful process for contracting operations in a combat environment. His additional Army experience includes serving as the program executive officer of Air, Space & Missile Defense and deputy for systems acquisition at the Tank-Automotive and Armaments Command (TACOM).
Prior to joining Oshkosh, Urias worked for Raytheon Company, where he most recently served as vice president of programs for Raytheon Integrated Defense Systems. In this role, he served as an advisor with senior international and domestic government officials. He also identified and developed new business opportunities, supported international business efforts and was a key participant in national theater and security programs.
Urias holds a master’s degree in national security and strategic studies from the Naval War College, a master’s degree in electrical engineering from the Naval Postgraduate School, and a bachelor’s degree in biological sciences from the University of California, Davis.
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®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, visit www.oshkoshcorporation.com.
®, TM All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
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 expected level and timing of U.S. Department of Defense (DoD) procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness, tight credit markets and lower municipal spending; the Company’s ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Company’s intangible assets and/or a slower recovery in the Company’s cyclical businesses than equity market expectations; the impact on revenues and margins of the decrease in M-ATV production rates; the potential for the U.S. government to competitively bid the Company’s Army and Marine Corps contracts; risks related to work stoppages and other labor matters, especially in light of the pending contract expiration for union employees at the Company’s Oshkosh defense facilities; the consequences of financial leverage, which could limit the Company’s ability to pursue various opportunities; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to pass on to customers price increases to offset higher input costs; risks related to costs and charges as a result of facilities consolidation and alignment, including that anticipated cost savings may not be achieved; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Company’s products; risks related to production delays arising from supplier quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; the potential for disruptions or cost overruns in the Company’s global enterprise resource planning system implementation; the potential for increased costs relating to compliance with changes in laws and regulations; risks related to disruptions in the Company’s distribution networks; and the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. 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 obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
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