Navistar CEO Looking For Partners?
By pdamon04 March 2016
In an interview with Reuters, Navistar CEO Troy Clarke said the company is open to taking on partners as the company fights to continue its turnaround in a slumping U.S. truck market.
“Everything we’re doing today just makes us a better partner,” Clarke told Reuters recently. “Everything we do is just making a better company that performs well.”
Last year, Navistar, which has been struggling in large part because of decisions made concerning the 2010 EPA engine emissions standards, made a deal to manufacture a line of Chevrolet-branded medium-duty trucks for General Motors, due to launch in 2018. “We have the opportunity to do more of those kinds of things in the event we continue to remain a stand-alone company,” Clarke said. “On the other hand, there are companies out there that could use our ability to do that kind of stuff to grow their footprint in North America.”
Clarke has signaled his openness to prospective partners in the past, although he has not addressed the issue as directly in recent calls with analysts, Reuters said. At the same time, the company has been long rumored to be a potential acquisition target for everyone from European vehicle heavyweight VW and diesel engine specialist Cummins to the Chinese.
Read the Reuters report here.