Navistar International Corporation and Caterpillar Inc. closed a joint venture transaction resulting in a new company, NC2 GlobalLLC, to serve the global commercial truck market.
Navistar and Caterpillar first announced plans to form a joint venture in June 2008 and have identified the leadership team of the new entity that will establish its headquarters in the Chicago area.
“Together, Navistar and Caterpillar have moved this project from concept to reality in little more than one year,” says Al Saltiel, president of NC2. “We now have a dedicated and experienced leadership team that will hit the ground running.”
“NC2 will produce and market a full line of commercial on-highway trucks for markets outside of North America,” says Saltiel. “Customers will benefit from the unparalleled depth and scope of support provided by Navistar and Caterpillar’s global dealers.”