Date: August 4, 2009
Source: McNeilus Truck and Manufacturing
McNeilus Truck; Minnesota Firm Launches ‘Ngen' Initiative For Clean Refuse and Concrete Mixer Trucks; McNeilus
McNeilus Annouces Ngen Initatives
McNeilus Truck and Manufacturing, an Oshkosh Corporation company (NYSE: OSK) and leading manufacturer of refuse truck bodies and concrete mixers, announced the launch of Ngen™, its "Next Generation Initiatives" program, designed to brand and promote industry changing technologies for the refuse and ready mix industries.
"We have been developing and promoting a host of game-changing technologies like our composite offerings, our fuel-saving hydraulic systems, and our CNG-powered refuse and concrete vehicles that come straight from our factory," said Mike Wuest, Oshkosh Corporation executive vice president and Commercial Group president. "We've become known for developing products that increase our customers' productivity, fuel economy, and ultimately their ROI. We want our customers to know that when they see Ngen innovations like the first CNG-powered concrete truck in North America, they think of McNeilus and the technology we bring to the table."
McNeilus has invested millions of dollars in the development of composite technologies, like their Revolution® composite mixer drum, their soon-to-be released composite concrete chute, as well as their composite hydraulic tanks and water tanks. These innovations save thousands of pounds compared to a competitor's product. With the heavier 2010 emission-compliant engines looming, these Ngen innovations equate to a much lighter, more fuel-efficient vehicle. More simply put, in the world of strict vehicle weight laws, these components allow fleet owners to carry significantly more payload than a competitor's vehicle as currently manufactured. More payload means more profit at the end of the day.
"The Ngen logo represents our investment of millions of dollars, a lot of time, and frankly a lot of sweat equity to ensure we stay in tune with what customers want and where the industry is heading. Ngen brings all of this technology into one place to make it easier for people to comprehend what McNeilus brings to the table compared to our competitors," said Wuest.
Wuest said that going forward, further innovations involving alternative fuels, composites, or fuel-saving technologies would carry the Ngen brand, but left the door open for additional categories under the Ngen umbrella.
"We're continually looking to leverage our parent company's engineering expertise in severe duty military applications for what can be applied to the commercial vehicle segment," said Wuest. "That's an obvious benefit to both McNeilus and to our customers."
Details regarding the McNeilus Ngen Initiative can be found on its refuse and concrete product websites, where their CNG vehicle video is available for immediate viewing as well as their CNG calculator which allows users to input their own fleet information to determine the return on investment of migrating to CNG-powered concrete or refuse trucks.
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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