Scania and MAN truck nameplate owner Traton Group has begun the second half of 2021 with a third brand known for severe service models, International Truck, after completing a $3.7 billion takeover of Lisle, Ill.-based Navistar Inc. Combining the Paris-based suitor’s leading stake in the European and South American markets with Navistar’s strong presence in North America lays the foundation for “a premier company with a global reach and complimentary capabilities.”
“We will be working side by side to bring sustainable transportation of the future one step closer,” says Traton CEO Matthias Gründler. “The fact that this merger has been implemented so quickly and smoothly, despite the obstacles presented by the Covid-19 pandemic, is testament to the impressive team work on both sides of the Atlantic.”
“Our common understanding of the future of transportation and joint heritage create a very solid basis for our common way forward,” adds Navistar CEO Persio Lisboa. “The transport industry is changing rapidly. And together we will shape this change for the sake of our customers. The Navistar team is ready for the next step.”
A strategic alliance since 2017 has afforded Traton and Navistar enhanced purchasing power and integration of new technologies. As a new Traton brand, management notes, Navistar will be in a better position to meet the growing requirements of the market and improve customer offerings—especially with respect to the electric mobility transition and advent of autonomous driving.