VW, Icahn, and Rachesky owners of NAVISTAR * USA
* Illinois - Navistar, Volkswagen seal $256 Million alliance deal
--- Navistar International Corp. and Volkswagen’s Truck & Bus division completed their alliance, with the German automotive company acquiring 16.2 million common shares, or 16.6% of equity, and the Lisle, Illinois, truck maker getting $256 million... The deal gives Navistar three separate major owners that collectively own about a half of the original equipment manufacturer: Carl Icahn, Mark Rachesky and VW. Icahn and Rachesky have had two seats each on Navistar’s board of directors, and now VW also has two... Joining the board are VW Truck & Bus CEO Andreas Renschler the former head of the Daimler AG global truck division... VW’s two major heavy truck brands in Europe are MAN and Scania... Not only are engineers and other professionals working with each other on trucks and engines in Lisle and VW’s headquarters city of Braunschweig, Germany, but also on technology... Navistar Chairman and CEO Troy Clarke said Navistar and VW share an interest in connected vehicles, or the “digitization” of commercial vehicles, as telematics for maintenance and customer service, and technology for active safety systems, autonomous driver assistance and platooning... Technological advancement was sometimes difficult as a stand-alone company, Clarke said. That could mean prioritizing between developing a new cab and working on emissions regulations...
(Photo: A Lone Star sleeper cab by VW in the future?) -- Lisle, ILL, USA - Transport Topics, by y Jonathan S. Reiskin - 1st March 2017
Labels: truckmakers news USA