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TRUCKMAKERS NEWS * USA
* Illinois - Activist shareholders raise their stakes in Navistar
Warrenvislle,ILL,USA -Reuters, by Scott Malone/Bijoy Koyitty/Lisa Von Ahn/John Wallace -Jul 12, 2012: -- Three big investors have increased their stakes in embattled U.S. truck and engine maker Navistar International Corp., which last month surprised Wall Street with a quarterly loss and has since backed down from a new engine technology it was pushing... Asset manager Franklin Resources Inc. is now Navistar's largest shareholder, with an 18.8 percent stake, topping MHR Fund Management and billionaire Carl Icahn. MHR last month took a significant stake in the company and now holds 14.95 percent; Icahn holds 13.19 percent. Together, the three top shareholders hold almost 47 percent of the outstanding shares of the maker of International-brand heavy trucks and school buses... Those larger stakes could set the stage for investors to pressure Navistar -- whose market value has fallen almost 40 percent this year -- to move quickly to improve its performance in a year when analysts expect it to lose money... Navistar Chief Executive, Daniel Ustian and Troy Clarke, the company's recently appointed president of trucks and engines, last week laid out a change in engine strategy that failed to impress investors. After months of failing to win U.S. regulatory approval for a novel technology to cut emissions, Navistar said it would adopt the approach used by most of its rivals, including Cummins Inc. and Paccar Corp.: using liquid urea to help cut emissions of nitrogen oxide, a pollutant linked to asthma... Navistar said a new engine it is developing would be ready by early next year, but investors fear its sales will suffer in the meantime... Navistar in June adopted a "poison pill" intended to keep any investor from acquiring a 15 percent or greater stake in the company... Navistar's board adopted the poison pill to prevent a hostile takeover. It would allow existing investors with less than a 15 percent stake to buy new shares in the company at half price, which would dilute the holdings of anyone with more than 15 percent... Navistar shareholders got more to worry about earlier this week when engine maker Cummins warned it no longer expects to be able to grow sales this year, as demand for trucks weakens in the United States and fails to improve in the key emerging markets of Brazil, China and India... That news pulled down the shares of big U.S. truck and engine makers including, 39 percent slide in Navistar shares this year has been far steeper than the declines at its peers. Oshkosh is down 6 percent; Cummins, 5 percent; and Paccar, 4 percent...
* Illinois - Caterpillar to pay CARB $510,000 for shipping engines deemed illegal
Peoria,ILL,USA -Land Line, by Charlie Morasch -12 July 2012: -- Caterpillar Inc. will pay the California Air Resources Board $510,000 after a lengthy investigation showed the diesel engine manufacturer shipped and sold nearly 590,000 engines without installing emissions control devices... The investigation was pursued by CARB, the U.S. Environmental Protection Agency, and the U.S. Department of Justice, according to a CARB news release. The federal portion of the investigation was concluded last year. All told, the company will pay $2.5 million in total fines as a result of the emissions violations... According to CARB, the on-road and off-road engines didn’t have emissions-control devices installed, and also didn’t meet CARB reporting and engine label requirements... Illinois-based Caterpillar recalled the affected engines between 2002 and 2005, as well as from 2010 through 2011, to meet a federal consent decree... The $510,000 fine will go into the California Air Pollution Control Fund for air research...
* Texas - Peterbilt Model 579 production begins
(Photo: A Peterbilt's Model 579, now in production, features a 2.1-metre aluminum cab and a Paccar MX 12.9-litre engine)
Denton,TXS,USA -Truck News (CAN) -Jul 12, 2012: -- Producing is now underway for the Peterbilt Model 579, the company has announced. The 579, features aerodynamic styling designed for superior fuel efficiency and an interior optimized for operator comfort and productivity. The first 579 production vehicles are being built for Peterbilt and PacLease dealers... Features of the 579 include its new 2.1-metre aluminum cab (available in a day cab, or with detachable sleeper) and an integrated Paccar MX 12.9-litre engine...
* Texas - Pete's 579 gains SmartWay approval
Denton,TXS,USA -Truck News (CAN) -Jul 13, 2012: -- Peterbilt has announced its new Model 579 has been SmartWay-certified.
Peterbilt’s SmartWay-designated tractors now include the models 579, 587, 386 (with and without liquefied natural gas) and 384... “Achieving the EPA’s SmartWay Designation is a validation of our extensive design of testing process,” said Landon Sproull, Peterbilt chief engineer. “The continuous refinement of aerodynamic efficiency through hundreds of iterations of Computational Fluid Dynamics, wind tunnel testing, and customer feedback has resulted in best-in-class performance, and our engineering teams couldn’t be more excited.”Labels: truckmakers news USA
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