AB Volvo and Navistar stop negotiations

Dec. 21, 2001
Volvo AB announced today that it has broken off talks to supply large engines for Navistar International Corp.'s International brand trucks, saying that terms of the agreement weren't met. The two companies stopped negotiations after deciding it wasn't possible to meet the conditions of the letter of intent. Volvo CEO Leif Johansson said in May it had signed long-term agreement to supply Navistar
Volvo AB announced today that it has broken off talks to supply large engines for Navistar International Corp.'s International brand trucks, saying that terms of the agreement weren't met. The two companies stopped negotiations after deciding it wasn't possible to meet the conditions of the letter of intent.

Volvo CEO Leif Johansson said in May it had signed long-term agreement to supply Navistar with 12- to 13-liter engines. Johannson said the engines would have been produced at Volvo Powertrain's plant in Sweden, and that production will eventually be shifted to a North American plant.

"As it has not been possible to fulfill the conditions outlined in the Letter of Intent, the parties have decided to cease negotiations," Volvo said in a released statement.

About the Author

Tim Parry

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!