Date: July 24, 2008
Source: McNeilus Companies, Inc.
McNeilus Supplies 58 CNG-Powered Garbage Trucks for New York Contract
Embracing an aggressive alternative fuel strategy, McNeilus Companies Inc., an Oshkosh Corporation (NYSE: OSK) company, was awarded a contract for 58 compressed natural gas (CNG) powered garbage trucks among 11 haulers for the town of Brookhaven, New York.
"We're very excited to have demonstrated the benefits of CNG and how that impacts both our environment and our customer's profitability in refuse collection," said Mike Wuest, McNeilus president. "When you look at the cost of a barrel of oil in comparison to the cost of natural gas over time, it puts CNG-powered vehicles in a whole new light. "If you add in the green component along with the tax benefits, then choosing CNG becomes even clearer."
Compressed natural gas -- or CNG -- is an alternative fuel that burns 90% cleaner than standard diesel fuel and, with the correct fueling equipment, can be drawn directly from the natural gas pipeline at a home or business and used to fuel compatible vehicles. CNG has been used as a fuel for public transportation in cities all over the world, including the U.S. With soaring diesel prices, alternative fuels are quickly gaining in popularity.
Within the contract, seven of the selected haulers are new to McNeilus. "When Brookhaven issued the contract stipulating that all their trucks needed to run on CNG, I was excited because we had just finished a bid for a similar municipality," said Brion Maguire, McNeilus sales representative. Maguire understood the benefits of CNG early on thru working with Smithtown, New York, and took the knowledge he gained there and began applying it to win over the haulers for Brookhaven.
Brookhaven is also currently working to install a compressed natural gas fueling station for the CNG fleet.
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.
Forward-Looking Statements
This press release contains statements that the Company believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital spending and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as "expects," "intends," "estimates," "anticipates," or "believes" and similar expressions 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 that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Company's access equipment, commercial and fire & emergency markets, especially during a recession, which many believe the U.S. economy has already entered; risks related to reductions in government expenditures and the uncertainty of government contracts; and the Company's ability to turnaround its Geesink Norba Group business. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission.
For more information, visit: www.mcneilusrefuse.com.
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