WARRENVILLE, Ill. (Dec. 7, 2009) – Navistar International Corporation (NYSE: NAV) today announced it has acquired Continental Mfg. Company, Inc., the largest privately-held mixer manufacturer in North America.
“This deal is another example of how Navistar is growing the business by leveraging what we have and what others have built,” said Jack Allen, president of Navistar’s North American truck group. “Adding Continental gives us another opportunity to provide an integrated, one-stop shop for our customers and helps expand Navistar’s industry-leading portfolio of purpose-built products.”
Continental offers a full line-up of rear discharge mixer products sold under the CBMW brand and also sells replacement parts for all mixer makes. Continental will continue to operate independently with manufacturing operations in Houston. Navistar will also utilize select International® Truck dealers to distribute and service mixers and mixer parts. Mixers will continue to be sold and mounted on International brand truck chassis as well as those chassis built by other OEMs.
“Joining with Navistar will provide our ready-mix customers with expanded distribution through International’s broad network of dealers,” said Brij Walia, president of Continental Mfg. Company, Inc. “Continental will continue providing outstanding products and exceptional service to new and existing customers.”
“Continental maintains a strong brand and has consistently demonstrated product leadership in the construction and ready-mix concrete industry,” added Allen. “Continental mixers have a solid reputation as some of the most durable, driver-friendly and fastest operating concrete mixers available anywhere in the world and we’re excited about adding Continental to the Navistar family of brands.”
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