WARRENVILLE, Ill., Dec 21, 2009 (BUSINESS WIRE) -- Navistar Inc. has signed an agreement to acquire an interest in Danish
technology company Amminex.
"By leveraging our assets and those of Amminex, this agreement supports
Navistar's three-pillar strategy of product leadership, competitive cost
structure and profitable growth," said Daniel C. Ustian, Navistar
chairman, president and chief executive officer. "Amminex offers another
tool for Navistar to explore cost-effective, customer-friendly
technologies that fit our MaxxForce(R) Advanced EGR platform, meeting
emissions requirements while removing the burden liquid urea places on
the industry."
The Amminex technology is a customer-friendly metal ammine-based NOx
reductant delivery system, and is a tool which Navistar engineers will
use to explore exhaust gas NOx reduction for specific applications. The
technology is very efficient when matched with Navistar's clean-burning
2010-compliant engines, which have already achieved 0.4 to 0.5 g/bHp-hr
(grams per brake horsepower per hour) of NOx using only Navistar's
in-cylinder NOx reduction technology, MaxxForce Advanced EGR. The
Amminex delivery system shows the potential to be very cost-effective as
an added component of MaxxForce Advanced EGR. In addition, several
automotive OEMs are evaluating the technology's use in light-duty
vehicles such as autos and pick-ups.
"Our in-cylinder approach with MaxxForce Advanced EGR technology remains
our prime path to achieve a tailpipe emissions compliance level of 0.2
NOx," said Jack Allen, president, Navistar's North American Truck Group.
"The Amminex technology fits perfectly into our Advanced EGR prime path
- assuring that the responsibility of emissions compliance remains with
the OEM and eliminating the need for customers and third parties to
invest in a new infrastructure for liquid urea."
As previously announced, all of Navistar's 2010 products will come to
market EPA certified and in full regulatory compliance between 0.4 and
0.5 g/bHp-hr NOx under all operating conditions, consistent with all EPA
standards when used with Navistar's green credits.
"While other commercial truck manufacturers have limited their
investment in emissions technology, declaring liquid urea-based SCR to
be the solution for NOx reduction, Navistar continues to invest in new
technologies that support our philosophy that emission control is the
responsibility of the manufacturer, and that trucks should operate
cleanly under all operating conditions," said Eric Tech, president,
Navistar Engine Group. "This not only enables our engine strategy in the
U.S., but also can be a key enabler as more stringent standards come
into effect globally."
About Amminex Technology
The foundational metal ammine-based delivery system developed by Amminex
was initially developed for fuel cell applications. The technology is
flexible and may be applied to fuel cells and other applications in the
future, as fuel cell and battery technology matures.
"This new relationship with Amminex not only broadens our technological
capability, but also allows us to share in potential benefits as other
OEMs evaluate and adopt the technology," Ustian said. "Navistar's
continued investment in leading-edge engine technologies has enabled the
company to deliver great products that address future regulatory
emissions goals while meeting customer needs." He cited a number of
examples of Navistar's demonstrated commitment to establish product
leadership with advanced engine technologies:
- Advanced engine components. Navistar recently acquired
Continental Diesel Systems' advanced fuel system technologies and
resources and formed a new company, Pure Power Technologies, LLC,
which will vertically integrate research and development, engineering
and manufacturing capabilities to produce world-class diesel power
systems and advanced emissions control systems, including
Amminex-derived technology.
- Emissions control technologies. Navistar vehicles have
consistently achieved the EPA's tough emissions requirements years
ahead of time. Using a combination of advanced fuel injection
technology, proprietary combustion bowl design, advanced air
management and improved electronic control and calibration, Navistar
introduced the customer-friendly 2010 emissions solution, MaxxForce(R)
Advanced EGR.
- Hybrid solutions. Navistar produced the industry's first hybrid
commercial trucks and school buses, marketed under the International(R)
and IC Bus(R) brands. The company has also developed advanced hydraulic
hybrid solutions in partnership with Eaton Corporation.
- Advanced aerodynamics. Navistar's advancement in aerodynamics
has made the International(R) ProStar(R) the most fuel-efficient long-haul
truck on the road.
- All-electric vehicles. Most recently, Navistar's work on
zero-emission all-electric delivery vehicles was recognized when U.S.
president Barack Obama announced a Department of Energy grant for
Navistar to build 400 vehicles in 2010. Navistar has entered into a
joint venture with Modec Ltd. of the United Kingdom to produce and
sell electric Class 2c-3 commercial vehicles in North, Central and
South America.
"It is a major breakthrough for Amminex that a global leader such as
Navistar has entered into a series development agreement as well as a
long-term supply agreement with us," said Jens Hinnerskov, Amminex chief
executive officer. "Our ability to attract investment from a wide
spectrum of entities bodes well as we continue to focus on advanced
power solutions and clean technologies."
About Amminex
Amminex, based in Søborg, Denmark, is privately held. Current investors
include SEED Capital Denmark K/S, Conduit Ventures Ltd., Yasuda
Enterprise Development Co. and the Nordea Foundation. Additional
information is available at www.amminex.net.
About Navistar
Navistar Inc., the operating company of Navistar International
Corporation (NYSE: NAV), produces International(R) brand commercial
vehicles, MaxxForce(R) brand diesel engines, IC Bus(TM) brand school and
commercial buses, Monaco RV brands of recreational vehicles, and
Workhorse(TM) brand chassis for motor homes and step vans. It also is a
private-label designer and manufacturer of diesel engines for the pickup
truck, van and SUV markets. The company also provides truck and diesel
engine service parts. Additional information is available at www.navistar.com.
SOURCE: Navistar
Navistar
Business Media contact: Roy Wiley, 630-753-2627
Trade Media contact: Steve Schrier, 630-753-2264
Investor Contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Copyright Business Wire 2009