Navistar Signs Agreement with GE Capital

Navistar International Corporation, a leading global manufacturer of trucks, buses and diesel engines, has just announced it signed an agreement with GE Capital, which will become Navistar’s preferred provider of retail financing solutions to support sales of Navistar trucks and school buses in the U.S. The agreement takes effect immediately under the Navistar Capital name and will be fully implemented in 90 days.

Navistar, which is located in Warrenville, IL, produces commercial trucks, buses, military vehicles, chassis for motor homes and step vans, and diesel. The company is the leading manufacturer of medium- and heavy-duty trucks and school buses in North America.

A.J. Cederoth, Executive Vice President and CFO of Navistar, said, “We are very pleased to be expanding our long relationship with GE Capital. This new alliance will enable Navistar to better support our dealer network and invest more capital in what we do best, which is to manufacture and sell top-quality products.”

“GE Capital’s financial strength, combined with the NFC team’s experience and integration with distribution, will result in a significantly stronger ability to help finance the sale of Navistar products,” said Bill McMenamin, Vice President, CFO and Treasurer, NFC.

Dan Henson, CEO, GE Capital, Americas, added: “As GE Capital has been working to become a more focused financial services company, we also continue to invest and grow our core businesses. Our expanded financing relationship with Navistar, a leader in the transportation industry, enables us to apply our nearly 40 years’ experience in transportation finance and in supporting leading OEMs and dealer networks across the U. S. economy to help drive Navistar’s growth.”