WARRENVILLE, Ill. (October 21, 2011) Navistar International Corporation (NYSE: NAV) today issued a statement of support following the enactment of free trade agreements recently adopted by the Senate and House of Representatives. The agreements with Colombia, Panama and South Korea will boost U.S. exports for manufacturers in the United States.
“Global growth has been a key part of our strategy to build on our strong North American truck and engine businesses,” said Dee Kapur, truck group president, Navistar. “These agreements will eliminate the import taxes and tariffs applied to our products in Panama and Colombia – regions where our products lead – and create jobs in the U.S. The agreements also contain provisions requiring signatories to promptly address concerns regarding technical barriers to trade. Such arrangements are invaluable at removing impediments to trade that can arise when both parties apply divergent regulatory standards to a single product.”
“Implementation of these agreements has taken more than four years of work and we thank the U.S. Department of Commerce, the Office of the U.S. Trade Representative and the many members of the House and Senate for supporting the manufacturing industry,” added Kapur. “The National Association of Manufacturers (NAM), which has long been a leading voice for free trade, should also be recognized for its efforts in this area.”
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: Karen Denning, 630-753-3535
Investor contact: Heather Kos, 630-753-2406
Web site: www.navistar.com