NAVISTAR ENTERS ENGINE SUPPLY AGREEMENT WITH DAEWOO BUSES
Navistar Engine Group, an operating unit of Navistar, Inc., has entered a supply agreement to develop and produce diesel engines for two new Daewoo Bus models for the Korean and other global markets. Under the agreement, Navistar's Brazilian affiliate MWM International Indústria de Motores da América do Sul Ltda. will supply the MaxxForce(R) brand engines to Clark ENG Ltd., which develops bus products for Korea-based Daewoo Bus Corporation.
With production starting in mid 2011, annual volumes are projected to reach nearly 25,000 by 2014. The new MaxxForce Sprint model in-line four-cylinder engines will power 6.0-ton GVW and 5.5-ton GVW Daewoo Bus brand light buses. The 3.2-liter turbodiesels feature four valves per cylinder and comply with Euro III, IV and V emissions standards.
Clark ENG Ltd. is an independent developer of bus products for Daewoo Bus Corporation and forklift products for Clark Material Handling International, Inc. All three companies are owned by Young An Company, a Bucheon, South Korea-based diversified holding company.
