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.
"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