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Article: United States : Caterpillar, Navistar to jointly make, sell trucks.
- Article from:
- TendersInfo
- Article date:
- June 14, 2008
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Byline: pinto03
Caterpillar Inc and Navistar International Corp NAVZ.PK are forming an alliance to jointly build and sell a variety of trucks worldwide, the companies said on Thursday.
The agreement is a sign that the North American truck-making industry is consolidating along the lines of the business in Europe.
"It's imperative for us to be in front of the industry, which is vertically integrating," Doug Oberhelman, head of Caterpillar's engine group, told Reuters.
The news also quashed speculation that Caterpillar would exit the on-highway truck engine business, a market that has recently provided the company with more ...