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Article: Caterpillar, Navistar Move Relationship Forward With Global Joint Venture for Commercial Trucks and North America Strategic Alliance for Vocational Trucks.
- Article from:
- PR Newswire
- Article date:
- April 6, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PEORIA, Ill. and WARRENVILLE, Ill., April 6 /PRNewswire-FirstCall/ -- As the next step in the alliance announced in June 2008, Caterpillar Inc. and Navistar International Corporation have signed a definitive agreement to produce Caterpillar heavy-duty vocational trucks for sale in North America and form a 50/50 joint venture that will pursue global commercial truck opportunities outside of North America.
"This joint venture leverages the complementary strengths of two great companies to serve global markets," said Daniel C. Ustian, Chairman, President and CEO, Navistar. "The venture will be distinctively positioned to offer customers world class on-highway ...