Warrenville, IL (September 27, 2011) – Navistar International Corporation (NYSE: NAV) announced today that it intends to sign a lease agreement for a manufacturing facility in Northwest Alabama that would further enhance the company’s manufacturing strategy.
The company intends to lease a manufacturing facility in the community of Barton, Ala., from The Retirement Systems of Alabama. This facility would become Navistar’s third manufacturing plant in the state. The company opened an engine plant in Huntsville in 2002, and expanded with a second engine plant there in 2008.
Navistar believes Alabama has proven to be a great place for the company to grow its business and intends to maximize the facility’s under-utilized fabrication equipment and other assets to cost effectively expand manufacturing capabilities and options in North America. The company hopes to capture synergies and efficiencies given the close proximity to Navistar’s two engine plants in Huntsville.
Local and state government agencies and officials were instrumental in making this an attractive opportunity for Navistar. The company, which would take possession of the facility on January 1, 2012, would retain the existing workforce and operations. Navistar intends to finalize its initial operating and product plans for the facility in the coming months, and expects to disclose those details by year end. The company would be eligible to qualify for certain state and local incentives based on achieving certain employment levels and other requirements.
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 (Navistar): Karen Denning, 630-753-3535
Investor contact (Navistar): Heather Kos, 630-753-2406
Web site: www.navistar.com