WARRENVILLE, Ill. (December 10, 2010) - Navistar Defense, LLC today announced that it received a $123 million delivery order for an additional 175 International® MaxxPro® Dash vehicles with DXM™ independent suspension. The order from the U.S. Marine Corps Systems Command also includes parts for the company’s Mine Resistant Ambush Protected (MRAP) vehicles.
The MaxxPro Dash award comes on the heels of the company’s November 22 award for MaxxPro Recovery vehicles. Navistar has continued to grow its product offerings by leveraging its current commercial capabilities and assets, which includes the proven commercial International® WorkStar® platform. This business strategy not only allows the company to respond quickly to vehicle orders, but it simplifies the integration of vehicle enhancements and the development of new truck variants.
“We are honored to provide additional MaxxPro Dash vehicles so soon after receiving last month’s award for Recovery vehicles,” said Archie Massicotte, president, Navistar Defense. “This award is an element in a strategy that allows us to build our business around a revenue base of $1.5 to $2.0 billion. Another important element is our commitment to keeping warfighters safe.”
Since 2007, the company has been contracted to produce more than 8,000 (7,839 + 175) MaxxPro MRAP units. While the MaxxPro family of vehicles has contributed to Navistar’s growth into new markets, the company has received orders for more than 30,000 vehicles since 2004. This includes sales of the MaxxPro, International® MXT™, as well as vehicles based on the International® PayStar® and WorkStar platforms.
MaxxPro Dash vehicles are powered by MaxxForce® 9.3D engines. Production of the new units will be completed by Summer 2011.
Navistar International Corporation (NYSE: NAV) 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. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
Forward Looking Statements
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the Company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see Item 1A, Risk Factors, of our Form 10-K for the fiscal year ended October 31, 2009, which was filed on December 21, 2009. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
Media contact: Elissa Koc, 630-753-2669
Investor contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom