* Illinois - Navistar offers to settle with SEC
-- Truck maker Navistar International Corp. hopes to pay the U.S. Securities and Exchange Commission to settle a probe into past disclosures about the departure of a chief executive and an exhaust-treatment technology... The Lisle, Ill., company’s offer wouldn’t require it to admit or deny any wrongdoing, it said in a regulatory filing, and the company has set aside an undisclosed amount to cover a civil penalty... Navistar has endured heavy losses in recent years as it tries to recover from the costly switch in treatment systems and widespread performance problems with Navistar engines built from 2010 to 2012. Navistar’s share of the North America heavy-duty truck market has fallen by about half since 2012. Navistar now uses the same treatment system as rival truck makers. But low resale values for trucks featuring the old system have forced Navistar to buy back thousands of its older trucks to sell new models to trucking companies... Earlier in the quarter, Navistar announced a joint agreement with GM to build medium-duty trucks at the Springfield site. The new trucks are scheduled to go into production in 2018...
(Photo: Joshua A. BickelL/The WSJournal: Navistar said its latest model trucks are gaining acceptance from customers even as industry-wide demand is weakening) -- Lisle, ILL, USA - The WSJ, by Bob Tita - 17 Dec 2015 Labels: truckmakers news USA
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