The History of Navistar International Trucks

Navistar international trucks is the parent company of International Truck and Engine Corp, which produces “International” brand commercial trucks. The company also provides financing for its customers and distributors through its wholly owned subsidiary, Navistar Financial Corp. It is a United States-based holding company which owns the manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Bus school and commercial buses, Workhorse brand chassis for motor homes and step vans, and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The Navistar international trucks is also a provider of truck and diesel engine parts and service.

During the 1980s and 1990s, the popularity of diesel engines had made Navistar international trucks a leading manufacturer of bus chassis, particularly that of school buses. In 1991, the company purchased one-third of American Transportation Corporation (AmTran), an Arkansas-based manufacturer. Navistar purchased the remaining two-thirds in April 1995. By becoming both a body and chassis manufacturer at the same time, Navistar gained significant market share in the industry. In 2002, AmTran was re-branded as IC (Integrated Coach) after a few months as International Truck and Bus. After nearly a century of business in Chicago, Navistar announced its plans on 30 September 2000 to leave the city and relocate their corporate offices to west suburban Warrenville, Illinois. The company’s Melrose Park, Illinois plant is notable for a significant workplace shooting on February 5, 2001. In 2004, Navistar international trucks re-entered the retail vehicle market for the first time since 1980.

In January 2006, Navistar international trucks declared it would not file its form 10-K annual report with the U.S. Securities and Exchange Commission on time. The delay was caused by the disagreement with its auditors, Deloitte and Touche, over complex accounting issues. In April, Navistar fired Deloitte, its independent auditor for 98 years, and hired KPMG to help restate earning back to 2002 in order to fix accounting errors. On December 15, 2006, Navistar executives announced further delay of its restatement and 2006 results. The announcement prompted the NYSE to announce the delisting of the company, after 98 years of trading, although the NYSE subsequently delayed the delisting pending an appeal by Navistar. However, Navistar was removed from the S&P 500 Index, and the NYSE eventually denied Navistar’s appeal and delisted the stock; it traded on the Pink Sheets until 30 June 2008, when it was re-listed on the NYSE, under its previous ticker symbol, NAV, after catching up with its filings. In 2007, Navistar international trucks and Engine Corporation is the first company to enter hybrid commercial truck production, with the International DuraStar Hybrid diesel-electric truck.