Inovative Products, Customer-Focused Technology Position Company for Future Growth When Market Returns
LOUISVILLE, Ky, 24th March, 2010: This week at the Mid-America Trucking Show in Louisville, Ky., Navistar, Inc. introduced the new International® ProStar®+, the latest in a long line of groundbreaking products from the company.
The new 2010 International ProStar+ raises the bar on what was already the top-selling Class 8 on-highway truck in the combined U.S. and Canada market. With improved aerodynamics and a nearly 1,300-pound weight reduction, the ProStar+ also brings a number of driver-friendly interior improvements and the industry’s only integrated, no-hassle emissions solution to meet 2010 U.S. Environmental Protection Agency (EPA) emissions standards, making it the ultimate truck to drive and own.
“While others in our industry have cut back product development and retracted in the market, we continue to improve our product line-up, enter new markets and expand our business.” said Dee Kapur, president, Navistar Truck Group. “Even amidst today’s challenging economic conditions, we are building a strong foundation that will position us well for future growth and leverage the market recovery opportunity.”
In just the past year, the company has made a number of key acquisitions, partnered with industry leaders and launched several new products that position Navistar for numerous future growth opportunities. Just some of the highlights include:
MaxxForce Advanced EGR Engines
At the heart of Navistar’s great products is its MaxxForce® Advanced EGR technology. Navistar’s commitment is to deliver a no-hassle, customer-friendly emissions technology that places the responsibility of emissions compliance on the vehicle manufacturer, not the driver or vehicle owner. Navistar showcased its 2010 MaxxForce® on-highway diesel engines at the Mid-America Trucking Show. The six-model lineup of new medium- and heavy-duty engines offers buyers of International® brand vocational and over-the-road trucks outstanding performance, fuel economy, reliability and durability, while meeting clean-air requirements without the burden of liquid urea-based emissions aftertreatment.
New Class 4/5 International TerraStar
Earlier this month, Navistar unveiled the all new Class 4/5 International® TerraStar™, a durable, commercial-grade work truck designed to take on a market long dominated by car and light-duty truck companies. Built on a strong and durable commercial-duty platform, the TerraStar is also easy to operate.
New line of commercial trucks for India
As part of Navistar’s global growth strategy, this past January the company’s commercial truck joint venture with Mahindra & Mahindra Ltd. (M&M) of India— Mahindra-Navistar Automotives Ltd. (MNAL)—unveiled a new line of commercial trucks and tractors for India and other global markets. Designed, developed and tested for the toughest roads and conditions, these trucks leverage Navistar’s expertise in designing and manufacturing medium- and heavy-duty commercial trucks.
All Electric Vehicles
President Obama visited the Navistar manufacturing facility in Wakarusa, Ind. last August to celebrate the award of a $39 million federal grant to build 400 all-electric delivery vehicles. In December, Navistar entered into a joint venture agreement with Modec Limited of the U.K. to form the Navistar-Modec Electric Vehicle Alliance, LLC. Through this agreement, Navistar is introducing Class 2c-3 all-electric vehicles later this summer.
Innovation, industry leadership with participation in DOE “Super Truck” program
In January, Navistar was named a partner in the U.S. Department of Energy (DOE) “Super Truck” program. Through the program, the company will receive more than $37 million in federal funding to pioneer new fuel efficiency and emissions-reducing technologies. The goal of the project is to develop a “Super Truck” featuring a 50 percent improvement in fuel efficiency.
Continental Mixers
In December, Navistar acquired Continental Mfg. Company, Inc., the largest privately-held mixer manufacturer in North America. Adding Continental Mixers to its product portfolio, Navistar now offers a fully integrated concrete mixer designed to work specifically with International® WorkStar® and International® PayStar® severe service trucks. For the first time, the ready-mix concrete industry will have an integrated chassis, engine and body designed and built by one manufacturer.
Pure Power Technologies
In its efforts to control costs and vertically integrate key fuel injection components for its MaxxForce diesel engines, in December 2009, Navistar acquired certain assets of Continental Diesel Systems U.S., LLC. Renamed Pure Power Technologies, LLC, Navistar plans to further vertically integrate research and development, engineering and manufacturing capabilities to produce world-class diesel power systems and advanced emissions control systems.
Monaco RVd
In June 2009, as part of Navistar’s strategy to leverage its own expertise with what others have built, the company entered into the recreational vehicle business with the acquisition of certain assets of Monaco Coach Corporation, one of the nation’s leading RV manufacturers. The new company, Monaco RV, LLC, will leverage Navistar assets to expand its diesel engine business, serve the end customer through robust part and service and complement Navistar’s Workhorse chassis business.
Navistar-Caterpillar Alliance
In April 2009, Navistar announced its strategic alliance with Caterpillar Inc. to develop and manufacture a new line of heavy-duty Caterpillar vocational trucks for the North America market. In addition, the two companies entered into a 50/50 joint venture called NC2 to develop, manufacture and distribute commercial trucks in regions outside of North America and India, with an initial focus on Australia, Brazil, China, Russia, South Africa and Turkey.
International LoneStar, 2009 ATD Truck of the Year
In April 2009, the groundbreaking International® LoneStar® was the 2009 American Truck Dealers (ATD) Commercial Truck of the Year.
International® LoneStar® Harley-Davidson™ Special Edition
Last March, Navistar unveiled the International® LoneStar® Harley-Davidson™ Special Edition, a limited edition Class 8 tractor designed in collaboration with the legendary motorcycle manufacturer.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom
Media contact: Steve Schrier, 630-753-2264
Investor contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom