|Ideal Innovations, Inc., Oshkosh Truck, and Ceradyne, Inc. Deliver Two Mine Resistant Ambush Protected (MRAP) II Vehicles - ''The Bull'' - to U.S. Army Aberdeen Test Center|
|Teaming Agreement Delivers The Bull(TM) Production Vehicles to Meet Needs for High-Threat, EFP-Resistant Vehicle
OSHKOSH, Wis., Oct 02, 2007 (BUSINESS WIRE) -- Ideal Innovations, Inc. (I-3), Oshkosh Truck Corporation (NYSE:OSK), and Ceradyne, Inc. (NASDAQ:CRDN) announced today that they have delivered both a 6-person and a 10-person MRAP (Mine Resistant Ambush Protected) II vehicle - known as The Bull(TM) - to the U.S. Army Aberdeen Test Center for further service evaluation.
The Bull, an advanced technology survivability solution, was conceived by I-3 in 2005 and developed with Ceradyne in 2006, is intended to provide the MRAP program with an advanced armor package with the survivability, mobility and reliability that troops require. The Bull features an I-3, Ceradyne and Oshkosh jointly-developed undercarriage design with V-shaped plates that deflect, rather than absorb, Improvised Explosive Devices (IED) and mine blasts from below. The integrated design helps to protect the crew with an armor compartment proven to defeat IEDs and Explosively Formed Penetrators (EFPs), the most dangerous threats faced by marines and soldiers in Iraq.
"The Bull is considered the next generation of vehicle survivability solutions. The vehicle uses proven armor solutions developed in cooperation with the Army Research Laboratory in a totally integrated vehicle design mounted on a proven military Medium Tactical Vehicle truck (MTVR) chassis. This survivability design seeks to eliminate the potential vulnerabilities that are often found in add-on armor kit approaches and the military chassis provides the mobility, reliability and supportability expected by the military user," said Robert W. Kocher, president of Ideal Innovations, Inc.
"Our meeting the timeline of the MRAP production vehicles with both a 6-person and a 10-person variant demonstrates the commitment all three companies have to addressing both the technical and the performance requirements of the MRAP II program on a timely basis," said Robert G. Bohn, Oshkosh Truck chairman and chief executive officer. "We are proud to be partnered with two strong companies in I-3 and Ceradyne as we enhance our ability to produce capable MRAP vehicles available for our brave men and women of the U.S. military."
Joel P. Moskowitz, chief executive officer for Ceradyne, said, "The speed with which we have responded to this very important next step in MRAP technology should make it clear that we are fully committed to meeting the survivability requirements of our service men and women. Ceradyne Vehicle Armor Systems has worked very closely with our partners, Oshkosh Truck and I-3, to ensure on-time delivery of the first two vehicles."
About Oshkosh Truck Corporation
Oshkosh Truck Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, military, fire and emergency and commercial vehicles and vehicle bodies. Oshkosh's products are valued worldwide by rental companies, defense forces, fire and emergency units, municipal and airport support services and concrete placement and refuse businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshtruckcorporation.com.
About Ideal Innovation, Inc.
I-3 is a worldwide consulting firm that provides innovative solutions for government and private industry to meet their most pressing technological, scientific, managerial and security requirements. I-3 was recently ranked the second fastest-growing government services company and the 46th fastest growing company in the nation on the Inc. 500. For more information, visit www.idealinnovations.com.
(TM) is a trademark of Ideal Innovations, Inc.
About Ceradyne, Inc.
Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.
For Oshkosh Truck
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 markets, the Company's ability to successfully execute on the "Bull"(TM) teaming agreement, risks related to reductions in government expenditures and the uncertainty of government contracts. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission.
For Ceradyne, Inc.
Except for the historical information contained herein, this news release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and its Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission.
SOURCE: Oshkosh Truck Corporation
Idea Innovations, Inc.