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Article: Navistar and Caterpillar Announce Global Truck Joint Venture NC2.
- Article from:
- Business Wire
- Article date:
- September 10, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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WARRENVILLE, Ill. -- Navistar International Corporation (NYSE: NAV) and Caterpillar Inc. (NYSE: CAT) closed a joint venture transaction resulting in a new company, NC(2) Global LLC, to serve the global commercial truck market. Navistar and Caterpillar first announced plans to form a joint venture in June 2008 and have identified the leadership team of the new entity that will establish its headquarters in the Chicago area.
"Together, Navistar and Caterpillar have moved this project from concept to reality in little more than one year," says Al Saltiel, president of NC2. "We now have a dedicated and experienced leadership team that will hit the ground running."
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