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Navistar completes joint venture with Mahindra & Mahindra of India

Published Sunday, January 01, 2006

Navistar International Corp's operating company, International Truck and Engine Corp, has finalized a joint venture with Mahindra & Mahindra of India to produce and market light, medium, and heavy commercial vehicles for India and export markets. The joint venture, named Mahindra International, has 51% ownership by Mahindra and 49% ownership by International. The combined investment of the two companies will be more than $80 million over the next two to three years. Initial plans for the joint venture were announced in June. As part of the joint venture, a development center has been opened in India. It currently ...

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