Navistar subsidiary buys SA medium-duty engine company

WARRENVILLE, Ill., (April 14, 2005) — The South American division of Navistar International has acquired major Brazilian diesel engine maker MWM Motores Diesel Ltd. Purchase price was not disclosed.

MWM produces a broad line of medium and high speed diesel engines ranging from 50 to 310 horsepower for use in pick-ups, vans, light and medium-duty trucks, as well as agricultural, marine and electric generator applications. Annual production exceeds 85,000 engines with 2004 revenues for the privately held company of approximately $370 million.

Daniel C. Ustian, Navistar chairman, president and chief executive officer, said the acquisition supports the company’s strategy to grow its engine business at both ends of the range of diesel engines currently produced. Ustian noted that in addition to increased volume, the acquisition provides strength in the South American market.

Additionally, the acquisition will allow International to tap the huge potential in both North America and South America for cost effective dieselization of Class 5 and smaller vehicles, Ustian says.

Owned by the Thiele family, MWM began operations in Brazil in 1953. The company is headquartered and has manufacturing operations in Sao Paulo, Brazil.


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