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Navistar to take stake in Brazilian bus builder Neobus; to partner on fully integrated commercial buses for the Americas

Navistar, Inc. is planning to enter into a global commercial bus partnership with Brazilian commercial bus body manufacturer San Marino Onibus e Implementos Ltda (Neobus) and will invest in the company. Navistar intends to leverage the bus body building expertise of Neobus and Navistar’s strengths in powertrain and chassis development.

Our investment in Neobus, one of the most respected Brazilian bus body manufacturers, allows us to leverage our experience in building integrated buses for the US and Canada market with the bus body building expertise of Neobus. Working together, we can bring value to customers with an integrated solution for commercial bus markets in South America and North America.

—John McKinney, president Navistar Global Bus

The two companies recently signed a non-binding agreement and negotiations are at an advanced stage. Finalization and execution of the binding Definitive Agreements are expected in the near future.

San Marino Onibus e Implementos Ltda develops vehicles for passenger transportation under the Neobus brand, exporting to the Americas, Africa and Middle East. Neobus product range includes midi and feeder vehicles, heavy transit and articulated buses, as well as intercity and long-distance coaches.

Navistar International Corporation is a holding company whose subsidiaries and affiliates produce International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis for motor homes and step vans. The company also provides truck and diesel engine service parts. Another affiliate offers financing services.

Comments

HarveyD

This sounds a lot like the first phase of a plan to move the remaining bus factories from USA/Canada to Brazil (i.e. one of the three future large lower labor cost markets, with China and India). Our local Nova/Volvo bus factory, with its highly paid workers, will probably be moving out soon to lower their cost and stay competitive.

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