Navistar International Corp has reached an agreement with Caterpillar Inc on a new ongoing business relationship that includes new licensing and supply agreements.
As part of the agreement, both companies have agreed to dismiss all pending litigation, some of which dates back to 2001. Financial terms of the agreement are not being disclosed, but it should not have a material impact on Navistar's financial position, cash flow, or results of operations.
A major component of the agreement involves new supply agreements between the two companies that include on-highway truck engines, fuel injectors, and remanufactured components. Part of the agreement calls for Caterpillar Remanufacturing to serve as International's lead global remanufacturing service provider.