Navistar

Navistar
legal form	Corporation
ISIN	US63934E1082
founding	1902/1986
Seat	Lisle , United States
management	Troy Clarke (President, CEO and Chairman)
Number of employees	14,000
sales	$ 10.250 billion
Branch	commercial vehicles
Website	www.navistar.com
	As of October 31, 2018

International LoneStar year 2010

Navistar is a US commercial vehicle manufacturer headquartered in Lisle in the Chicago metropolitan area .

history

In the early 1980s, the American International Harvester Group ran into financial difficulties after expanding around the world. The agriculture division was sold to Tenneco in 1984 and merged with Case Corporation to form Case-IH . The acquired companies DAF , ENASA , Seddon Atkinson and Pacific had to be sold again. In 1986 a necessary reorganization resulted in the establishment of the Navistar International Transport Corporation.

In 2005 Navistar founded the joint venture Mahindra International in India together with Mahindra & Mahindra Limited to produce trucks and buses for the Indian market. Also in 2005, Navistar acquired GVW Parts from the GVW Group in Highland Park, Illinois , which sells OES spare parts and accessories for trucks, buses and leisure vehicles. Navistar also took over from GVW Workhorse Custom Chassis , a specialist in chassis for mobile homes , buses and commercial vehicles on a GM basis. In collaboration with GVW subsidiary UCBC, the company had developed the Walk-In Van , an aluminum delivery van specially designed for the needs of door-to-door suppliers and parcel services such as Federal Express and UPS .

For 2010, stricter US emission regulations for trucks were planned, which severely limited certain values such as emitted nitrogen oxides. All competitors - with the exception of Navistar - relied on catalytic converters for their diesel engines. It was planned to return the exhaust gases to the engine, to cool them there and thus reduce emissions (“exhaust gas recirculation” - EGR). However, this has not proven itself in practice. The mileage decreased, the consumption of the vehicles increased. The freight forwarders then returned large quantities of these vehicles with this same technology. Navistar's US market share halved between 2010 and 2016 to eleven percent. The share price fell 80 percent in those years.

In 2012, the US Securities and Exchange Commission began an investigation into the group. It has been accused of deliberately misleading investors by claiming that Navistar could comply with the then-new emissions regulations. There was also an environmental agency fine of almost $ 2,000 per engine for failing to comply with emissions regulations. In the meantime, the group has agreed on the payment of a single-digit million amount with the environmental authority.

Since the development threatened the existence of the group, the then CEO was dismissed and replaced by Lewis Campell from the Textron conglomerate. The production of EGR trucks was stopped and relied on the catalyst solution as with all other providers. In addition, a quarter of the workforce was laid off, which then only amounted to around 14,000.

In order to promote the global expansion of the commercial vehicle division, Volkswagen Truck & Bus and the US commercial vehicle manufacturer Navistar International Corporation announced that they had entered into a far-reaching alliance. This provides for Volkswagen to take over 16.6 percent of Navistar in a capital increase for 230 million euros and for the two companies to establish a purchasing joint venture.

activities

Navistar makes trucks, military vehicles and buses, as well as engines and spare parts. International is used as a brand name for trucks and IC Bus for buses. Navistar had sales of $ 10.250 billion and profits of $ 340 million for the 2018 fiscal year ended October 31, 2018. In fiscal 2013, it generated sales of $ 10.775 billion and a loss of $ 898 million. In fiscal 2011, sales were $ 13.958 billion with a profit of $ 1.723 billion.