Melbourne, AUSTRALIA – Feb. 26, 2010 – Effective from 9 October 2010, Navistar International Corporation (NYSE:NAV) and Iveco Trucks Australia Limited have agreed to terminate the supply, technical assistance and license agreement under which Iveco markets certain models of Navistar’s International® brand trucks in Australia.
After that date, Navistar products will be designed, manufactured and distributed by NC2, the global commercial truck joint venture between Navistar and Caterpillar Inc. (NYSE: CAT).
Under a separate agreement, Iveco will continue to provide authorized parts, service and support for International trucks in Australia for a period of seven years. In addition, Iveco will continue to build and sell its existing ADR80-02 inventory of International trucks, which is currently estimated to extend through approximately June 2011. Existing product warranties for vehicles sold through this time will continue in force as per their original terms.
“Iveco is pleased to continue its relationship with Navistar as an authorized provider of parts, service and support for International trucks, for the long term,” said Giorgio Gallia, Iveco’s Managing Director. “Current International truck buyers can be assured of receiving excellent ongoing support for the current range of International trucks produced in Australia.”
“This amicable agreement preserves continued service for International brand trucks in Australia,” said Phil Christman, president, Navistar global truck operations. “We look forward to continuing to provide our Australian customers with new truck models via the dealer network being established by NC2.”
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: Athena Campos, +630-753-3361
Investor Contact: Heather Kos, +630-753-2406
Iveco designs, manufactures, and markets a broad range of light, medium and heavy commercial vehicles, off-road trucks, city and intercity buses and coaches as well as special vehicles for applications such as fire fighting, off-road missions, defence and civil protection.
Iveco employs over 24,500 people and runs 27 production units in 16 countries in the world using excellent technologies developed in 5 research centres. Besides Europe, the company operates in China, Russia, Turkey, Australia, Argentina, Brazil, and South Africa. More than 4,600 service outlets in over 100 Countries guarantee technical support wherever in the world an Iveco vehicle is at work. Additional information is available at www.iveco.com.au.
Media Contact: Scott Williams +61 3 9238 2200
About NC2 Global LLC
NC2 Global LLC is a 50/50 joint venture between Navistar (NYSE: NAV) and Caterpillar (NYSE: CAT) which will develop, manufacture and distribute commercial trucks globally, outside North America. NC2’s product line will feature both conventional and cab-over truck designs and will be sold under both the International® and Cat® brands. More information is available at www.nc2.com.
Media Contact: Lisa Evia, +630-971-8608