6 December 2004
MAN Nutzfahrzeuge AG of Munich, Germany and Navistar International Corporation of Chicago, IL announced a strategic agreement to collaborate on design, development, sourcing and manufacturing of components and systems for commercial vehicles, including a range of diesel engines.
MAN and Navistar’s operating company, International Truck and Engine Corporation, are both suppliers of diesel engines, trucks, and buses in their respective geographic markets; MAN in Europe and International in North and South America.
The objective of the collaboration is for the two companies to remain fully independent entities but at the same time reach synergies of scale through high combined volume in manufacturing and sourcing as well as sharing of development costs, said MAN. Both companies have agreed to not comment on any specific components or applications at this time for competitive reasons.
International Truck and Engine Corporation generated revenues of $7.34 billion (USD) in fiscal year 2003. MAN trucks and coach buses unit had 2003 revenues of €6.7 billion.