Even though a deal with Navistar International Corp dissolved over the summer, the commercial truck maker remains interested in possibly acquiring General Motors' medium-duty truck unit. Dan Ustian, Navistar's chairman, chief executive and president, told the Reuters Manufacturing Summit in Chicago that, "...we're always looking to grow and that compliments us pretty well."
That sounded promising at the outset, but Ustian stressed that Navistar doesn't need any additional manufacturing capacity in the current economy, and that any agreement requiring Navistar to keep open facilities in Flint would never get signed. In fact, he added, if the current downturn continues, the company may be forced to slow or stop production in their own existing heavy-duty truck plants in Mexico and Canada.
The news is indifferent to the UAW officials who are looking for a buyer interested in keeping the plants open to save jobs. While Navistar waits "to see how the economy materializes," maybe Isuzu will step up to the plate?
[Source: Reuters UK]