Press Release: Navistar Clarifies Media Reports Regarding the Company's Activities in Mexico
05/30/96
CHICAGO, PRNewswire -- In a series of special events scheduled this week in Mexico, Navistar International execu- tives will inaugurate the company's plans to serve that region through 21 dealer outlets and a contract assembly agreement. Various wire services erroneously reported that these events would be used to announce construction of a manufacturing facility in Mexico. Navistar's plans to serve customers in Mexico were announced in February. The events slated this week formally intro- duce the dealer network to the marketplace. During the initial series of events, Chairman and Chief Executive Officer John R. Horne and other Navistar executives will meet with customers and personnel at one of the dealer outlets as well as with government officials. In addition, they will tour the contract assembly facilities in Monterey. It was also erroneously reported by the wire services that Navistar's Horne would be meeting with President Ernesto Zedillo. Similar events will be held at the other dealer locations over the next several months. Navistar also serves customers in Mexico through Dina Camiones, Mexico's largest truck manufacturer. Navistar has a 7.4 percent ownership interest in Dina, as well as a number of technology assistance and supply agreements that enable Dina to offer Navistar's products to customers in Mexico. The Navistar agreements with Dina expire in March 1998. Chicago-based Navistar manufactures and markets International brand medium and heavy trucks, school buses and mid-range diesel engines. CONTACT: Andy Opila of Navistar, 312-836-2901