Caterpillar (CAT) & Navistar International (NAV) Announce Phase 2 of Global Truck Alliance for On-Highway and Vocational Trucks
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Overall Analyst Rating:
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Revenue Growth %: +0.4%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 1.5%
Revenue Growth %: +0.4%
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Caterpillar Inc. (NYSE: CAT) and Navistar International Corporation (NYSE: NAV) today announced the next phase of cooperation between the two companies to develop, manufacture, sell and support vocational and on-highway trucks for the North America market and the rest of the world.
Under the terms of this new relationship, NC(2) will become a wholly owned subsidiary of Navistar and through a new brand licensing agreement, both International and Caterpillar branded trucks will continue to be distributed through both International and Caterpillar dealers outside of the United States.
In June of 2008, the two companies announced plans to form an alliance for the on-highway truck business. This led to the creation of a 50/50 joint venture called NC(2) Global LLC.
"This next phase will move the relationship to a structure and business model that will be similar to the business relationship we have with Navistar for our North American vocational trucks," said George Taylor, Director of Caterpillar's Global On-Highway Truck Group. "As we have looked at the success of the Cat vocational truck launch in North America, we believe that a similar business model for commercial trucks for the rest of the world makes the most sense for our customers," Taylor added.
Under the terms of this new relationship, NC(2) will become a wholly owned subsidiary of Navistar and through a new brand licensing agreement, both International and Caterpillar branded trucks will continue to be distributed through both International and Caterpillar dealers outside of the United States.
In June of 2008, the two companies announced plans to form an alliance for the on-highway truck business. This led to the creation of a 50/50 joint venture called NC(2) Global LLC.
"This next phase will move the relationship to a structure and business model that will be similar to the business relationship we have with Navistar for our North American vocational trucks," said George Taylor, Director of Caterpillar's Global On-Highway Truck Group. "As we have looked at the success of the Cat vocational truck launch in North America, we believe that a similar business model for commercial trucks for the rest of the world makes the most sense for our customers," Taylor added.
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