Navistar To Build Industry Benchmark Manufacturing Facility In San Antonio, Texas

Date : 09/19/2019 @ 1:00PM
Source : PR Newswire (US)
Stock : Navistar International Corp (NAV)
Quote : 32.51  -0.29 (-0.88%) @ 6:36PM

Navistar To Build Industry Benchmark Manufacturing Facility In San Antonio, Texas

Navistar (NYSE:NAV)
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2 Months : From Sep 2019 to Nov 2019

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LISLE, Ill., Sept. 19, 2019 /PRNewswire/ -- Navistar, a leading maker of commercial trucks and buses, announced it will be making a capital investment of more than $250 million to build a new manufacturing facility in the state of Texas. The investment, which is contingent on finalization of various incentive packages, will bring approximately 600 jobs to the San Antonio area.

Navistar Logo. (PRNewsFoto/Navistar International Corp.)

"Over the last five years, Navistar has made significant investments to improve our position in the market," said Troy Clarke, Navistar chairman, president and chief executive officer. "This investment will create a benchmark assembly facility to improve quality, lower costs and provide capacity to support anticipated industry growth, as well as market share gains."

The new manufacturing plant will have the flexibility to build Class 6-8 vehicles, complementing Navistar's existing assembly manufacturing footprint, which includes truck assembly plants in Springfield, Ohio and Escobedo, Mexico. The new investment builds on Navistar's recently announced plans to invest $125 million in the Huntsville, Alabama engine plant to produce next-generation, big-bore powertrains developed as part of the alliance with TRATON.

The Texas site is located on a critical corridor, along Interstate 35, which links Navistar's southern United States and Mexico supply bases, allowing for significant logistic improvements, resulting in lower cost and enhanced profitability.

"This investment by Navistar is paramount to Texas' success in growing our diverse and highly skilled manufacturing workforce," said Governor Abbott. "The Lone Star State is the new frontier in innovation and I am confident that this partnership will usher in even greater economic prosperity for our state."

"We are so proud to have a company like Navistar, a leader in vehicle innovation, in San Antonio," said Mayor Ron Nirenberg. "It shows that our strategy to grow our advanced manufacturing sector is working."

"The County has, for many years, been touting the strength of our Texas-Mexico region as a platform for vehicle production," said Judge Nelson Wolff. "Navistar's decision to locate their newest facility here is just the latest affirmation that our community is uniquely situated to host world-class companies in advanced manufacturing industries. We are thrilled to have them in Bexar County."

Navistar plans to break ground on the property later this year and anticipates production to begin approximately 24 months later.

About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.

 

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SOURCE Navistar International Corporation

Copyright 2019 PR Newswire

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