WARRENVILLE, Ill., Feb 17, 2005 (BUSINESS WIRE) -- International Truck and Engine Corporation today announced that it is working to develop and produce International engines in the 11- to 13-liter range to be offered exclusively in International Class 8 highway tractors and severe service trucks starting in fall 2007.
The International engines will be a product of a previously announced strategic agreement between International and MAN Nutzfahrzeuge to collaborate on design, development, sourcing and manufacturing of components and systems for commercial trucks.
"Our strategy for enhancing and growing the engine business involves extending our engine product line," said Jack Allen, president of International's Engine Group. "This is another significant step in our commitment to deliver great products for customers at a competitive cost structure. Our collaborative approach brings the advantages of integrating leading engine technologies with market and customer-specific expertise while leveraging scale in development and procurement."
International is extending its successful business model of integrated trucks and engines backed by the largest dealer, service and parts network in North America into the Class 8 truck segment. International has proven success with this business model in the school bus, medium truck and severe service truck businesses.
"We are integrating the latest engine technologies and expertise from two long-time diesel leaders. Together, we have more than 180 years of diesel engine experience, going all the way back to when Rudolf Diesel developed the first diesel engine at MAN in 1893," Allen said.
"International's market leadership and technical expertise in delivering high performance diesel power plants while achieving U.S. EPA emissions standards, combined with MAN's expertise in big bore engines will deliver an outstanding, market leading, differentiated product that will offer greater choice for our customers."
International will continue to offer the current range of Cummins and Caterpillar engines in its heavy vehicles. We also expect continued collaboration with Cummins on engine component development and sourcing.
The new International engines will combine world-leading technologies aimed to deliver the features Class 8 customers want, including best-in-class fuel economy, reliability, uptime, long life, robust performance, durability and an exceptional driver experience.
Like the entire family of International engines, the new engines for Class 8 vehicles will be: 2007 EPA emissions certified and proven with extensive field-testing.
International Truck and Engine Corporation is the operating company of Navistar International Corporation (NYSE: NAV). The company produces International(R) brand commercial trucks, mid-range diesel engines and IC brand school buses and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. With the broadest distribution network in North America, the company also provides financing for customers and dealers. Additionally, through a joint venture with Ford Motor Company, the company builds medium commercial trucks and sells truck and diesel engine service parts. Additional information is available at: www.internationaldelivers.com.
Forward-Looking Statements
Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this news release and we assume no obligation to update the information included in this news release. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. For a further description of these factors, see Exhibit 99.1 to our Form 10-K for the fiscal year ended October 31, 2004.
SOURCE: Navistar International Corporation
Navistar International Corporation
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