Navistar Clarifies Media Reports on Detroit Diesel Agreement
28 October 1997
Navistar Clarifies Media Reports on Detroit Diesel AgreementCHICAGO, Oct. 28 -- Recent media reports announcing a three- year distribution agreement between Navistar International Corporation and Detroit Diesel Corporation , omitted that the agreement excludes distribution of Navistar diesel engines to North American truck manufacturers. A press release announcing the agreement was issued October 20, 1997 by Detroit Diesel. Navistar International Corporation, with world headquarters in Chicago and 1996 revenues of $5.8 billion, is a worldwide leader in the manufacture of mid-range diesel engines which are produced in a range of 160 to 300 horsepower. The company also is the leading North American producer of heavy and medium trucks and school buses. Navistar maintained its position as the sales leader in the combined United States and Canadian retail markets for medium and heavy trucks and school buses through the fiscal nine months, achieving a 27.1 percent share that is consistent with same period a year ago. SOURCE Navistar International Corporation