TRATON Group

Navistar opening books to TRATON in takeover bid

Navistar International Corp. (NYSE: NAV) will open its books to TRATON, which is offering $3.6 billion to take over the truck maker.

In a statement Monday, Navistar’s board said it “has unanimously concluded that while TRATON’s revised proposal of $43 per share significantly undervalues” the maker of medium- and heavy-duty trucks and school buses, “It does represent a starting point for further exploring the possibility of a transaction.”

In other words, Navistar will keep talking with TRATON.

Year...

https://s29755.pcdn.co/news/navistar-opening-books-to-traton-in-takeover-bid

Will TRATON offer enough to swallow Navistar?

TRATON Headquarters

TRATON Group parent Volkswagen AG is willing to pay more than the $700 million sweetener in its latest $43-a-share offer for Navistar International Corp. (NYSE: NAV).

“Navistar’s board of directors and management team are committed to exploring all avenues to maximize value,” Navistar said in a statement Thursday acknowledging the new offer. TRATON offered $2.9 billion, or $35 a share, Jan. 30 for the 83% of Navistar it does not already own.

It appears unlikely the revised offer is enough for...

https://s29755.pcdn.co/news/will-traton-offer-enough-to-swallow-navistar

Navistar will build electric trucks at new plant in Texas

Navistar International Corp. (NYSE:NAV) will build electric trucks on the same assembly line as diesel models at a new plant in San Antonio beginning in the spring of 2022.

“San Antonio will be capable of building both fuel and fully electric trucks with the same robust manufacturing process with no off-line assembly,” Persio Lisboa said on the company’s fiscal third-quarter earnings call Wednesday. 

The electric truck announcement came against a backdrop of third-quarter losses due to several...

https://s29755.pcdn.co/news/navistar-will-build-electric-trucks-at-new-plant-in-texas

Navistar takeover intrigue rises with TRATON leadership shakeup

Navistar and TRATON CEOs

If German truck holding company TRATON Group (ETR: 8TRA) completes its unsolicited bid to buy Navistar International Corp. (NYSE: NAV), new leaders will run the combined company with TRATON CEO Andreas Renschler departing.

TRATON announced on Tuesday, July 8, that takeover architect Rentschler is departing and handing the CEO role to Matthias Gründler, the former chief financial officer of the Munich-based truck holding company of Volkswagen AG. 

Navistar named Persio Lisboa to succeed Troy...

https://www.freightwaves.com/news/navistar-takeover-intrigue-rises-with-traton-leadership-shakeup

Navistar goes virtual for Texas plant groundbreaking

NAvistar plant 3D rendering

With Texas under a renewed shelter-in-place order because of a surge in coronavirus infections, Navistar International Corp. (NYSE: NAV) broke ground virtually for a $250 million assembly plant in San Antonio.

The expected 600 new jobs “fuel Texas’ COVID-19 recovery by providing great job opportunities to our diverse and highly skilled manufacturing workforce,” said Gov. Greg Abbott, who on Thursday halted business reopenings in Texas.

The Manufacturing 4.0 plant draws lessons from TRATON Group,...

https://www.freightwaves.com/news/navistar-goes-virtual-for-texas-plant-groundbreaking

Breaking News: Navistar names Lisboa next CEO

Persio Lisboa

Navistar International Corp. (NYSE: NAV) named Persio Lisboa on Friday as its next CEO and president effective July 1.

Lisboa, 54, currently executive vice president and chief operating officer, succeeds Troy Clarke, who will remain at Navistar in the newly created role of Executive Chairman.

Navistar had extended Clarke’s term as CEO three times, in part because of an unsolicited takeover offer by TRATON Group, the German truck holding company of Volkswagen AG. TRATON made a $2.9 billion bid on...

https://s29755.pcdn.co/news/breaking-news-navistar-names-lisboa-next-ceo

What does Navistar loss portend for other truck manufacturers?

International construction truck

Navistar International Corp.’s second-quarter fiscal loss from COVID-19-disrupted production in April points to worse numbers for truck manufacturers that will report pandemic-addled results for the April-June quarter.

For Navistar (NYSE: NAV), things likely will get worse in its third quarter, which covers May-July. Its second-quarter report on Thursday, June 4, pointed to the difficulties that manufacturers and suppliers will unpack when they report their second quarter results in July.

None of...

https://s29755.pcdn.co/news/what-does-navistar-loss-portend-for-other-truck-manufacturers?

Traton urges European government-sponsored swapping of older trucks

Aerial of Traton Group trucks

Traton Group, (CXE: 8TRA) the holding company for Volkswagen AG’s truck and bus businesses, urged a European “cash for clunkers” program to boost new truck purchases after reporting lower sales, earnings and orders in the first quarter on Monday.

“What Europe needs right now are investment incentives for the environmentally friendly modernization of truck fleets as a means to overcome the crisis in this system-critical sector,” said Andreas Renschler, Traton CEO and member of the VW Board of...

https://s29755.pcdn.co/news/traton-urges-european-government-sponsored-swapping-of-older-trucks

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