Feb. 20, 2014
/PRNewswire/ -- Navistar International Corporation (NYSE: NAV) announced today the consolidation of mid-range engine manufacturing, an important next step in its turnaround efforts. As a result, the company will move mid-range engine production at its
, plant to
Melrose Park, Ill.
Navistar will continue to build its 13-liter engine at its
, big bore engine plant.
"As we have stated previously, we have too much excess engine manufacturing capacity in
and we must take action to reduce our costs and improve the business," said
, Navistar chief operating officer. "The consolidation will further lower the company's breakeven point, strengthen our competitiveness in the marketplace and help position Navistar for a return to profitability."
Once completed later this summer, these actions are expected to eliminate approximately 280 jobs at
and reduce Navistar's operating costs by about
"Ending production at a facility is a difficult decision because of its impact on the many great people who've been part of our company," Allen said. "We understand that these decisions have an impact on our employees and the community and we will treat our people with dignity and respect throughout this process."
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International
brand commercial and military trucks, MaxxForce
brand 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
SOURCE Navistar International Corporation