(NSI News Source Info) TORONTO, Canada / WARRENVILLE, Ill. - July 18, 2011: Navistar Defense, LLC today announced that it received a delivery order for 140 International® MaxxPro® Recovery vehicles with rocket-propelled grenade (RPG) nets from the U.S. Marine Corps Systems Command. The order for $142 million also includes parts and support for the Mine Resistant Ambush Protected (MRAP) vehicles. Navistar received its first MaxxPro Recovery vehicle order in November 2010.
"Many mission types require MRAP survivability protection and that includes warfighters running vehicle recovery and support missions," said Archie Massicotte, president, Navistar Defense. "To meet urgent needs, we completed delivery of the last MaxxPro Recovery vehicle order two months ahead of schedule. We are proud that these vehicles are performing well and we will work swiftly again to deliver these additional trucks."
The MaxxPro Recovery vehicle is based on the same International® WorkStar® platform that lends its flexibility to the company's growing family of vehicles. MRAP ballistic, mine and improvised explosive device (IED) protection aids two- to three-man crews as they retrieve damaged or mission-disabled vehicles and carry out other support missions.
The company will produce the vehicles at its West Point, Miss., facility where assembly of the recent MaxxPro Dash and Dash ambulance orders is currently being conducted. Recovery vehicles will be integrated into the running assembly line and will be delivered in October and November 2011.
"Today's orders are within our $1.9 billion guidance for fiscal year 2011 and add to our total vehicle fleet of more than 32,000 vehicles," said Massicotte. "Our vehicles are in use in 26 different countries, and as we move forward, we will continue to provide fleet support whenever and wherever they may be operating."
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco® RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
Forward-Looking Statement
Information provided and statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this report and the company assumes no obligation to update the information included in this report. Such forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties, and assumptions. For a further description of these factors, see Item 1A, Risk Factors of our Form 10-K for the fiscal year ended October 31, 2010, which was filed on December 21, 2010. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
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