LISLE, Ill., July 28, 2015 /PRNewswire/ -- Navistar, Inc. today announced that it will launch a new line of premium vocational trucks for the severe service segment beginning in early-2016, leveraging shared technology and intellectual property from its venture with Caterpillar. In addition, the company announced that it will transition to Caterpillar the production and engineering of the Cat-branded severe service trucks the company has been supplying to Caterpillar since 2011. Navistar will continue to manufacture trucks for Caterpillar through December 31, 2016.
While specific terms of the transition will not be disclosed, both companies will have the opportunity to leverage certain joint intellectual property, collaborate with suppliers and utilize licensing agreements moving forward.
"Navistar and Caterpillar have had a strong, collaborative working relationship through a number of projects and partnerships for many, many years," said Bill Kozek, president, Navistar Truck and Parts. "This next phase provides Navistar with an exciting opportunity to introduce new technologies and product features into our new line of premium vocational trucks that we'll launch in 2016."
The company expects to provide additional details on its new premium vocational trucks in the months ahead.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, proprietary diesel engines, and IC Bus™ brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.
SOURCE International Truck
For further information: Media, Steve Schrier, 331-332-2264; Investor, Kevin Sadowski, 331-332-2406, Web site: www.InternationalTrucks.com