Friday, September 11, 2009

Navistar, Caterpillar start Global Truck Joint Venture NC2

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Navistar International Corporation and Caterpillar Inc. closed a joint venture transaction resulting in a new company, NC2 Global LLC, to serve the global commercial truck market.  Navistar and Caterpillar first announced plans to form a joint venture in June 2008 and have identified the leadership team of the new entity that will establish its headquarters in the Chicago area.

"Together, Navistar and Caterpillar have moved this project from concept to reality in little more than one year," says Al Saltiel, president of NC2.  "We now have a dedicated and experienced leadership team that will hit the ground running.

As previously announced, the 50/50 joint venture will develop, manufacture, and distribute commercial trucks with an initial focus on markets including Australia, Brazil, China, Russia, South Africa, and Turkey. NC2's product line will feature both conventional and cab-over truck designs and will be sold under both the CAT and International (Navistar) brands.   

Separately, Navistar and Caterpillar continue to work on design and development of a new proprietary, purpose-built, heavy-duty CAT vocational truck for the North American market. The trucks, manufactured in Navistar's Garland, Texas, facility, will be sold and serviced through the CAT North American Dealer network.  Caterpillar vocational trucks are scheduled for full production in mid 2011.

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