Reminds Shareholders to Vote the WHITE Proxy Card TODAY
OSHKOSH, Wis.--(BUSINESS WIRE)--Jan. 24, 2012--
Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty
vehicles and vehicle bodies, today announced that the State of Wisconsin
Investment Board (SWIB), one of the Company’s large shareholders, has
announced its support for all of the Oshkosh director nominees on the
WHITE proxy card in connection with the Company’s Annual Meeting of
Shareholders to be held on Friday, January 27, 2012.
SWIB issued the following statement:
“The State of Wisconsin Investment Board (SWIB), one of Oshkosh Corp.’s
large institutional shareholders, announced today that it will vote
shares in support of the Oshkosh Board of Directors' nominees. SWIB
seeks to protect its long-term investments and believes the Oshkosh
directors are the best choice to maximize long-term shareholder value.
“Assets under management at SWIB are about $83 billion as of December
31, 2011. This includes approximately $77 billion in trust funds of the
Wisconsin Retirement System (WRS), which is the 9th largest US public
pension fund and the 30th largest public or private pension fund in the
world.”
Richard M. Donnelly, Oshkosh Corporation independent Chairman of the
Board, said, “We appreciate the support of SWIB and other Oshkosh
shareholders and believe that the Oshkosh director nominees are the
right choice to continue executing on our strategy and creating value
for all of our shareholders.”
As previously announced, Glass Lewis & Co. (Glass Lewis) and Egan-Jones
Proxy Services (Egan-Jones), two leading, independent proxy advisory
firms, each recommend Oshkosh shareholders vote for ALL of the Oshkosh
director nominees on the WHITE proxy card.
Oshkosh urges all shareholders to vote the WHITE proxy card today. With
the Annual Meeting only days away, and to ensure that their shares are
represented at the Annual Meeting, Oshkosh requests that shareholders
vote by telephone or Internet by following the instructions on the WHITE
proxy card.
Oshkosh shareholders who have previously voted Carl Icahn’s gold proxy
card still have time to change their vote to the WHITE proxy card.
Shareholders who have questions about how to vote their shares or change
a previously executed vote, or who need additional assistance, should
contact Oshkosh’s proxy solicitor, Innisfree M&A Incorporated, toll-free
at (877) 750-9499 (banks and brokers may call collect at (212) 750-5833).
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 Corporation
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, visit 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 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 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 expected level and timing of DoD
procurement of products and services and funding thereof, including the
impact of the DoD’s allocation of certain tires which will restrict and
delay certain FHTV sales; risks related to reductions in government
expenditures in light of U.S. defense budget pressures and an uncertain
DoD tactical wheeled vehicle strategy; the cyclical nature of the
Company’s access equipment, commercial and fire & emergency markets,
especially during periods of global economic uncertainty, lower
municipal spending and tight credit markets; the Company’s ability to
produce vehicles under the FMTV contract at targeted margins; the
duration of the ongoing global economic weakness, which could lead to
additional impairment charges related to many of the Company’s
intangible assets and/or a slower recovery in the Company’s cyclical
businesses than equity market expectations; the potential for the U.S.
government to competitively bid the Company’s Army and Marine Corps
contracts; the consequences of financial leverage, which could limit the
Company’s ability to pursue various opportunities; increasing commodity
and other raw material costs, particularly in a sustained economic
recovery; the ability to pass on to customers price increases to offset
higher input costs; risks related to costs and charges as a result of
facilities consolidation and alignment, including that anticipated cost
savings may not be achieved; risks related to the collectability of
receivables, particularly for those businesses with exposure to
construction markets; the cost of any warranty campaigns related to the
Company’s products; risks related to production or shipment delays
arising from quality or production issues; risks associated with
international operations and sales, including foreign currency
fluctuations and compliance with the Foreign Corrupt Practices Act; the
potential for increased costs relating to compliance with changes in
laws and regulations; risks related to disruptions in the Company’s
distribution networks; risks related to a proxy contest and other
actions of activist shareholders; and the Company’s ability to
successfully execute on its strategic road map and meet its long-term
financial goals. Additional information concerning these and other
factors is contained in the Company’s filings with the Securities and
Exchange Commission, including the Annual Report on Form 10-K filed
November 16, 2011. The Company assumes no obligation, and disclaims any
obligation, to update information contained in this release. Investors
should be aware that the Company may not update such information until
the Company’s next quarterly earnings conference call, if at all.
Source: Oshkosh Corporation
Oshkosh Corporation
Financial:
Patrick Davidson, 920-966-5939
Vice
President of Investor Relations
or
Media:
John Daggett,
920-233-9247
Vice President of Communications
