WARRENVILLE, Ill. — More details are emerging about the joint venture transaction between Navistar International and Caterpillar, which will now operate under the name NC2 Global LLC.
The joint venture was first announced in June 2008 and will operate out of the Chicago area.
Al Saltiel, former vice-president of marketing with Navistar has been named president of the new entity.
“Together, Navistar and Caterpillar have moved this project from concept to reality in little more than one year,” says Saltiel. “We now have a dedicated and experienced leadership team that will hit the ground running.”
Other newly-named executives include: Bob Iacullo, chief financial officer of NC2, formerly from Caterpillar and Motorola before that. There have also been appointments for business units such as product development, sales and marketing, dealer operations, production, supply chain and parts and service, the company has announced.
“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.”
Both Navistar and Caterpillar have contributed three people to NC2’s board of directors, which will be chaired by Cat president Doug Oberhelman. Navistar Truck Group president Dee Kapur will serve as lead director from Navistar.
“The formation of this joint venture represents a long-term strategic decision,” Oberhelman says. “Despite the current challenges facing the global economy, both Caterpillar and Navistar are dedicating the right people and investing significant resources to ensure NC2’s long-term success in the global on-highway truck market.”
NC2 will manufacture and distribute commercial trucks globally, initially focusing on Australia, Brazil, China, Russia, South Africa and Turkey. Both cabover and conventional trucks will be sold under the Cat and International brands.
Here in North America, Navistar and Caterpillar will continue to develop a purpose-built heavy-duty Cat vocational truck which will be sold and serviced through Cat’s North American dealer network. The company says the North American trucks will be slated for full production by mid-2011.
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