Transportation

Transportation

Navistar Partners with GE Capital in U.S.

By Darryl Isherwood

Published March 09, 2010

| FOXBusiness

Diesel engine and truck manufacturer Navistar International (NAV) will join forces with GE Capital for all retail financing needs, the company announced Tuesday. GE Capital will provide financing and support for sales of Navistar trucks and school buses in the U.S.

The two companies have a long history together internationally, with GE Capital serving as the main financier to Canadian Navistar since 1986. The new U.S. agreement takes effect immediately, with the two companies becoming fully integrated within 90 days. Around 60 employees on the Navistar side will join GE Capital for program management.

Navistar CFO A.J. Cederoth said in a statement that the company is pleased to expand its relationship with the General Electric (GE) unit.

“This new alliance will enable Navistar to better support our dealer network and invest more capital in what we do best, which is to manufacture and sell top-quality products,” Cederoth said.

Navistar, the largest maker of school busses in America, also makes military vehicles, commercial trucks, and chassis for motor homes and vans.

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