Date: February 8, 2010
Source: McNeilus Companies, Inc.
McNeilus Compressed Natural Gas (CNG) Refuse Trucks Power Up Texas
CNG-powered refuse trucks changing the landscape of the Lone Star State
McNeilus Companies, Inc., an Oshkosh Corporation (NYSE: OSK) company, announced today it has sold its first CNG automated refuse truck in Texas and other CNG refuse trucks as the interest for alternative fueled refuse vehicles continues to build. The city of El Paso recently received its first McNeilus CNG-powered AutoReach® automated side loader.
"El Paso has always been a very progressive city in terms of its waste hauling strategies, so we're extremely pleased to see them moving toward CNG," said Mike Wuest, Oshkosh Corporation executive vice president and Commercial Group president. "El Paso has been a long-time, loyal customer of ours and the purchase of the new CNG-powered unit is an exciting new chapter in this relationship."
El Paso, the 22nd largest city in the United States, has been a valued customer of McNeilus since 1999, with a current fleet of nearly 100 McNeilus automated side loaders.
The El Paso Environmental Services Department Director Ellen Smyth said she felt it was the right time to begin migrating to alternative-fueled refuse trucks.
"One of the biggest reasons for this purchase was the increase in fuel costs that we saw two years ago. My opinion was and still is that we need to reduce our dependence on foreign oil. As diesel fuel prices go higher, the more attractive CNG is to us," said Smyth.
In addition to the El Paso sale, McNeilus sold four CNG-powered rear loaders to a private hauler, Royal Disposal and Recycling, headquartered in Fulshear, Texas, just outside of Houston. Co-owner Charles Gregory remembered the difficulty in finding diesel fuel during Hurricane Ike and vowed the refineries would never again hold him captive.
"When the hurricane hit, the refineries shut down and it made it very difficult to maintain operation. We were pretty much on our own and we made the decision then and there that we would reduce our dependence on both our refineries and foreign oil," said Gregory.
He also stated that longer intervals between oil changes, the dramatic reduction in noise, and the huge savings in fuel cost were also major factors that drove them to make the change.
McNeilus' CNG products are part of its larger Ngen™ Initiatives, which promotes alternative fuels, fuel-saving innovations, and composite products. McNeilus is proud to feature Allison transmissions and Cummins ISL-G engines as part of the Ngen CNG vehicle offering.
"Every customer which converts to CNG-powered refuse trucks has a unique story regarding the reasons why they switched," said Wuest. "All of the reasons support the Homeland Security initiative to remove our dependence on Middle East oil as well as support green initiatives throughout the country. We're even more pleased that McNeilus is helping to lead that charge with sales to large and small fleets throughout the country."
About McNeilus:
McNeilus Companies, Inc., an Oshkosh Corporation [NYSE: OSK] company, is a leading manufacturer of refuse truck bodies and concrete. 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®, 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.
For more information, contact:
Jeffry Swertfeger
507.374.8248
jswert@mcneilusco.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 risks related to the required increase in the rate of production for the M-ATV contract and the amount, if any, of additional orders for M-ATVs that the Company may receive; 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; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof, including the outcome of the formal protests of the Family of Medium Tactical Vehicles (FMTV) award to the Company; risks related to reductions in government expenditures and the uncertainty of government contracts; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company's ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; 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, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; 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 obligation, to update information contained in this press release.
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