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Navistar has unveiled updates to its International® A26 engine, enhancing fuel economy by 10% since the engine's launch. These improvements include a previous 6% boost from design updates and an additional 4% from the latest enhancements. Key upgrades involve combustion efficiency through a higher compression ratio, optimized temperature control, and advanced air management systems. The A26, producing up to 515 horsepower and 1,850 lb.-ft. of torque, is designed for various vehicle series including long-haul and heavy-haul applications. This commitment to efficiency supports Navistar's goal of lowering total cost of ownership for customers.
Navistar has officially launched its new fully-electric International® eMV™ Series trucks, targeting safe and reliable zero-emission solutions to enhance customer total cost of ownership. The eMV, available in four wheelbase options, delivers over 335 horsepower and features a 135-mile range on a full charge, supported by a robust dealer network. Integral to its design are advanced charging capabilities, including both AC and DC options. Navistar aims to facilitate the electrification journey for customers through its specialized NEXT eMobility Solutions team, ensuring a smooth transition to electric vehicle fleets.
Navistar has unveiled its NEXTperience trailer, a mobile unit aimed at enhancing eMobility training for dealers and customers. Launching in early 2022, the trailer will facilitate sales, service, and training events, promoting the adoption of electric vehicles (EVs) in the trucking sector. It will address various educational aspects, including high voltage safety and charger training. The initiative aligns with Navistar's commitment to provide comprehensive solutions as more regions adopt zero-emission technologies.
Navistar International Corporation announced that Mathias Carlbaum has been appointed as the new CEO and President, effective September 1, 2021. He succeeds Persio Lisboa, who is retiring after successfully leading the company back to profitability and executing the Navistar 4.0 strategy. Carlbaum brings extensive experience from his roles at Scania and TRATON GROUP. The company will also establish an Executive Board consisting of five members alongside Carlbaum as part of its governance structure. The transition is poised to enhance operational efficiency.
Navistar International Corporation (NYSE: NAV) has received all regulatory approvals to proceed with its merger with Dusk Inc., a subsidiary of TRATON SE. The merger is expected to close on July 1, 2021, pending customary closing conditions. Previously, TRATON announced a cash offer of USD 44.50 per share for all outstanding shares of Navistar not already owned by it, approved by stockholders on March 2, 2021. This merger aims to position Navistar within the TRATON family, supporting its goal of becoming a global leader in transportation.
Navistar International Corporation (NYSE: NAV) announced an extension of the redemption date for its $600 million 9.500% Senior Secured Notes due 2025 from June 25, 2021, to July 1, 2021. This extension is linked to the pending merger with Dusk Inc., a subsidiary of TRATON SE, which remains subject to regulatory approvals. The redemption price will be 107.125% of the principal amount plus accrued interest. Noteholders should refer to the initial Redemption Notice issued on April 26, 2021, for full terms, as they remain unchanged aside from the new Redemption Date.
Navistar International Corporation (NYSE: NAV) announced a Conditional Full Redemption for its 6.625% Senior Notes due 2025, amounting to $1.1 billion, scheduled for July 1, 2021. The redemption is contingent upon the completion of the merger with Dusk Inc., a subsidiary of TRATON SE, which will leave Navistar as the surviving entity. The redemption price is 103.313% of the principal amount, plus accrued interest. There is no guarantee that the redemption will occur on the scheduled date due to the merger's regulatory conditions.
International Truck, a brand of Navistar, recognized Frederick P. Scheler, Dealer Principal of Five Star International, as the 2020 North American Dealer of the Year. This award honors top dealers for outstanding customer service, uptime, and sales performance. Five Star International operates eight Pennsylvania locations, employing over 265 staff and 90 certified technicians. They've also achieved the International Truck Presidential Award, given to the top 8% of dealerships. Scheler attributes the award to his dedicated team and loyal customers, highlighting their commitment to the International Truck brand.
Navistar International Corporation (NYSE: NAV) reported a strong second quarter for 2021, achieving a net income of $163 million or $1.63 per diluted share, a significant improvement from a net loss of $38 million the previous year. Revenues rose to $2.2 billion, compared to $1.9 billion in Q2 2020. Adjusted EBITDA nearly doubled to $198 million (9.2% of revenue). The company increased production despite supply chain challenges and made strides in its Navistar 4.0 strategy, including electric vehicle deliveries and a merger with TRATON on track for mid-2021.
Navistar International Corporation (NYSE: NAV) has announced it will report its fiscal 2021 second quarter financial results on June 8, 2021. Following the pending merger proposal with TRATON SE, the company will not host a conference call. Instead, Navistar will file its standard press release and provide supplementary materials on its Investor Relations website.
Navistar is known for producing International® brand commercial trucks and IC Bus® brand buses.
