Navistar, CAT finalize global joint venture

The company, which will be headquartered in Chicago, will develop, manufacture and distribute commercial trucks globally, focusing initial efforts on Australia, Brazil, China, Russia, South Africa and Turkey. The product line will include conventional and cab-over trucks and will be sold under both the CAT and International brands, Navistar said

When talks began in June 2008, Navistar International Corp. and Caterpillar hoped the venture would result in a productive global presence. That venture has taken its next step with the announcement of key executives and a name as the companies finalized the agreement.

NC2 Global LLC will be headed by veteran Navistar executive Al Saltiel as president. Saltiel has been vp of marketing and head of Navistar’s marketing efforts since 2004, responsible for all brand, product and pricing strategy. Prior to joining Navistar, Saltiel held positions with Sony Electronics, Jaguar and Ford’s Premier Automotive Group.

“Together, Navistar and Caterpillar have moved this project from concept to reality in little more than one year,” said Saltiel. “We now have a dedicated and experienced leadership team that will hit the ground running.”

The company, which will be headquartered in Chicago, will develop, manufacture and distribute commercial trucks globally, focusing initial efforts on Australia, Brazil, China, Russia, South Africa and Turkey. The product line will include conventional and cab-over trucks and will be sold under both the CAT and International brands, Navistar said.

Each company has named three people to the board of directors. Caterpillar Group president Doug Oberhelman will serve as chairman and Navistar Truck Group president Dee Kapur is the lead director.

“The formation of this joint venture represents a long-term strategic decision,” said Oberhelman. “Despite the current challenges facing the global economy, both Caterpillar and Navistar are dedicating the right people and investing significant resources to ensure NC2’s long-term success in the global on-highway truck market.”

Bob Iacullo, formerly the business resource manager for Caterpillar’s infrastructure product development division, has been named chief financial officer.

The joint venture is a separate entity from the previously announced collaboration on a heavy-duty CAT vocational truck for the North American market. Those trucks, to be built at Navistar’s Garland, TX, facility, will be sold through CAT’s North American dealer network. They are scheduled for full production in mid-2011.
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