Date: January 1, 2009
Source: News Room
McNeilus, a division of Oshkosh Corp., is on a roll in compressed natural gas-fueled garbage trucks, having already won orders for 58 vehicles for haulers in Brookhaven, NY, and is now about to announce at least two orders for more than 140 trucks in Seattle, WA.
Company Press Release:
McNeilus Helping to "Green Up" Seattle
McNeilus Companies, Inc., an Oshkosh Corporation (NYSE: OSK) company, delivered the first of 144 new state-of-the-art Compressed Natural Gas (CNG) refuse trucks to the city of Seattle, Washington.
The fleets servicing the Seattle Public Utilities Contract selected McNeilus as the manufacturer of choice to provide the refuse vehicles. The purchase of these new McNeilus CNG-powered refuse trucks are part of a statewide initiative to cut vehicle emissions in advance of the 2010 federal emissions requirements. The Seattle Public Utilities Contract purchase of the McNeilus CNG refuse trucks are part of a statewide initiative to cut vehicle emissions in advance of the 2010 federal emissions requirements. McNeilus expects to deliver the remaining CNG vehicles in late March 2009.
"Alternative fuel vehicles help McNeilus customers to reduce their fuel bills in a difficult economy and creates a positive impact on the environment," said Mike Wuest, Oshkosh Corporation executive vice president and president, Commercial. "Oshkosh Corporation has a history of innovations, and we see McNeilus CNG powered-vehicles as one more pioneering green alternative we can share with our customers. With CNG, customers not only get a greener vehicle, but they also experience benefits to their bottom line with an economically viable alternative fuel."
Recognizing the nationwide move toward environmentally friendly refuse collection, McNeilus has begun offering a turnkey solution for haulers looking to migrate to CNG-powered vehicles. Customers who purchase CNG-powered chassis can have the CNG system installed as the body proceeds down the assembly line at McNeilus. McNeilus has installed a CNG fueling depot at their factory in Minnesota to further streamline the process.
"We encourage our customers to contact our sales force to find out more about the benefits of CNG," said Wuest. "We commend Seattle on their green stance and we look forward to working with other customers who are interested in following Seattle's lead."
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.
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 "may," "should," "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 which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of the Company's financial leverage position, especially given recent turmoil in the credit markets, and the level of associated borrowing costs; the Company's ability to maintain compliance with financial covenants in its credit agreement; the cyclical nature of the Company's access equipment, commercial and fire & emergency markets, especially during a global economic downturn and credit crisis; the Company's ability to offset higher steel and raw material costs through other cost decreases or product selling price increases; risks related to reductions in government expenditures and the uncertainty of government contracts; risks associated with international operations and sales, including foreign currency fluctuations; and the Company's ability to turn around 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.