![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKMAKERS NEWS * NAVISTAR's FACTS & RUMORS
* Tennessee / USA - Does VW Want to Build Big Trucks?
(Photo: A Navistar's International pickup truck) Knoxville,TENN,USA -Pickup Trucks, by Mark Williams -June 15, 2012: -- What kind of Class 3, 4, and 5 trucks would Volkswagen make if they had a strong foothold in the U.S. heavy- or medium-duty truck market? We might get to find out if some of the rumors we're hearing are even partially true... The EPA gave Navistar a special exception, penalizing the company as much as $2,000 per engine sold that does not meet the emissions regulation... Navistar has said it paid as much as $10 million in the first quarter of this year... The company said it disagrees with the current ruling and will most likely appeal... As a result of the ruling and a rough first quarter of sales, Navistar stock has fluctuated quite a bit, possibly making the company an even more attractive "partner" for a company like VW... Regardless of what happens, the fact that VW is looking for more heavy-truck influence in the U.S. market could produce some interesting options for medium-duty truck buyers in the future... What happens to Navistar will be interesting to watch, as activist investor Carl Icahn recently upped his stake in both Navistar and Oshkosh in the past year. In fact, some reports speculated that he wanted Navistar and Oshkosh to merge in order to be a stronger company, more resistant to this type of purchase. So far, he has not been able to influence either side...
* NY / USA - Former Icahn Aide Takes 13.6% Stake in Navistar
New York,NY,USA -Dow Jones Newswires/Fox Business -June 15, 2012: -- Activist investor Mark Rachesky, a former protege of billionaire investor Carl Icahn, has acquired a 13.6% stake in truck maker Navistar International Corp., providing fresh evidence that large investors intend to exert influence over the direction of the struggling company... Mr. Rachesky's MHR Fund Management LLC reported Friday that it obtained 9.3 million shares of Navistar in recent weeks, catapulting him past Mr. Icahn as the company's largest shareholder. The filing said MHR used both direct stock purchases and options to acquire Navistar shares...
* Illinois / USA - Navistar's terrible, no good, very bad year
Chicago,ILL,USA -The Chicago Business, by Kate MacArthur -June 18, 2012: ... If the company can't find a technical fix—or a legal workaround with the EPA—it may have to cease diesel engine production, a move that could result in thousands of layoffs and the loss of 27 percent of its revenue. That would be a severe blow to the company, which has been in the Chicago area for 165 years, and to the city's western suburbs, where its many longtime employees could have trouble finding comparable jobs...
Labels: truckmakers news USA
posted by Unknown @ 2:32 PM
0 Comments:
Post a Comment
<< Home