DODGE CENTER, Minn. (May 15, 2009) McNeilus Truck and Manufacturing, an Oshkosh Corporation company (NYSE: OSK) and leading manufacturer of refuse truck bodies and concrete mixers, announces the introduction of the first commercially manufactured compressed natural gas (CNG) concrete mixer. The McNeilus® CNG-powered mixer meets the U.S. Environmental Protection Agency (EPA) 2010 heavy-duty engine emission standards for nitrogen oxides (NOx) and particulate matter (PM).
The McNeilus CNG-powered concrete mixers offer a clean fuel technology solution to the heavy-duty truck market and will help make the construction industry more environmentally friendly. When compared to their diesel engine counterparts, CNG-powered mixers offer lower fuel costs, reduced noise pollution and are six times cleaner, making them both more economical to run and environmentally friendly than diesel-powered mixers.
McNeilus applied for a grant with the California South Coast Air Quality Management District (SCAQMD), the governing agency on air pollution for the Los Angeles South Coast Air Basin, to modify its prototype truck so it can be commercialized and sold. The project includes creating and conducting a six-month testing program, and developing documentation for the truck’s maintenance and operational use.
“We are looking forward to making this type of clean-fueled truck widely available to construction companies interested in promoting clean energy,” said William A. Burke, Ed.D., Governing Board chairman of the SCAQMD. “It’s important to have natural gas vehicles for all applications, including heavy-duty construction equipment. This is a great example of how clean fuel technology is spreading to all kinds of vehicles.”
“Our experience as the only in-house manufacturer of CNG-powered refuse trucks made us the best company to work with SCAQMD in the development and commercialization of a CNG concrete mixer,” said Mike Wuest, Oshkosh Corporation executive vice president and Commercial Group president. “With our proven success in developing CNG turnkey solutions for refuse haulers, McNeilus is confident we will deliver the same quality and reliability on which McNeilus has built its reputation to our concrete customers.”
The CNG concrete mixers will be fitted with 6-cylinder, 8.9L Cummins ISL G engines developed by Cummins Westport of Canada. Cummins’ ISL G engine features cooled exhaust gas recirculation (EGR) and state-of-the-art electronic engine controls resulting in a high performance, clean-running and reliable engine that meets EPA 2010 heavy-duty engine emissions standards. McNeilus first plans to offer both Bridgemaster and Standard mixers on either the Kenworth W900 or T800 chassis. Other chassis manufacturers’ CNG platforms are pending.
Wuest noted that McNeilus spent several years researching and working to understand ways to obtain state and federal grants for alternative-fueled vehicles, as well as tax rebate programs associated with CNG-powered vehicles and fueling stations. McNeilus grant specialists help customers learn more about the benefits of CNG and assist in identifying and securing funding for CNG fleet conversion.
“Our CNG-powered concrete mixers demonstrate the company’s pioneering environmentally sustainable vehicle solutions and continued commitment to innovation that consumers can depend on to meet their heavy-duty vehicle needs,” added Wuest.
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 and 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.
