Navistar subsidiary inks bus joint venture

Oct. 1, 2008
Two leading companies based in Latin America intend to form a partnership to help meet the growing demand for public and commercial transportation around

Two leading companies based in Latin America intend to form a partnership to help meet the growing demand for public and commercial transportation around the globe.

Camiones y Motores International de Mexico S.A. de C.V., the Mexico-based subsidiary of Navistar Inc. and San Marino Ônibus e Implementos LTDA, a Brazilian bus body builder, have signed a memorandum of understanding to form a joint venture to manufacture commercial bus bodies, which will be distributed as commercial integrated buses through the IC Bus Dealer channel beginning in 2009.

The companies estimate that the global market for commercial buses is upwards of 300,000 units annually and will continue to grow as markets such as Russia, India, and the Middle East move forward with continued infrastructure development.

This proposed venture is expected to begin by serving the Mexico and Latin American market with mid-size and midibus models distributed under the IC brand. Future growth potential includes expanding sales into more products and other world markets, including the United States and Canada.