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Article: Navistar Completes Monaco Buy.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- June 8, 2009
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Byline: Jonathan Marino
A Navistar International Corp. affiliate completed the $47 million buy of some of Monaco Coach Corp.'s assets.
Navistar, a listed, Illinois-based recreational vehicle maker, saw its shares trade up slightly in late Friday morning activity, about five percent, to $42.25, as a Deutsche Bank report rated the company a buy and predicted substantial earnings in the near term. The four facilities included in the purchase are located in Oregon and Indiana.
The company also recently expanded its manufacturing in South Africa. Navistar's deployment of capital comes at a time when the RV industry as a whole has been hit hard by the ...