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MarketScreener Homepage  >  Equities  >  Nyse  >  Navistar International Corporation    NAV

NAVISTAR INTERNATIONAL CORPORATION

(NAV)
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Navistar International : Truck IC Bus and Parts Business Awarded Sourcewell Contracts

02/09/2021 | 04:45am EST

Navistar today announced that its commercial truck and bus brands, International Truck and IC Bus, as well as its parts business have each been awarded cooperative contracts through Sourcewell - a government agency focused on helping other government agencies, educational institutions and nonprofits work more efficiently.

The contracts, which are established for the next four years, designate International Truck, IC Bus and Navistar's parts business as a verified seller to over 65,000 non-profit organizations - including state and local governments, public and private education, research agencies, charity industries and food banks - across the United States and Canada that are participating agencies of Sourcewell. These new contracts started at the beginning of 2021. International Truck has been a contract holder since 2016 while this is the first time IC Bus and Navistar's parts business have been awarded contracts.

'Through this program, nonprofit organizations that are Sourcewell members are able to purchase our industry leading vehicles without having to spend time and money on the bid process,' said Mark Stasell, vice president, Vocational Truck, Navistar. 'We are proud to be a part of this program and be a partner in helping these organizations reach their business goals.'

These new Sourcewell cooperative contracts will save participating organizations time and money by eliminating much of the work associated with the bidding process for International and IC Bus vehicles - including spec'ing equipment and advertising and evaluating bids. This work is instead done by Sourcewell and allows participating organizations to jump straight to a P.O. offer; vastly speeding up the time to equipment delivery. For parts, Sourcewell members are given an easy and streamlined buying process. Members can purchase parts from any dealership within the network at any time and can leverage the buying power of the collective group.

All International Truck and IC Bus models are available through the contract.

'We are happy to work with Sourcewell to provide school districts and non-profits access to our industry leading products that otherwise might not have had the resources to do so,' said Trish Reed, vice president and general manager, IC Bus.

About Navistar

Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International brand commercial trucks, proprietary diesel engines, and IC Bus brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.

Contact:

Tel: (888) 884-9359

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 9 070 M - -
Net income 2021 193 M - -
Net Debt 2021 2 559 M - -
P/E ratio 2021 23,0x
Yield 2021 -
Capitalization 4 411 M 4 411 M -
EV / Sales 2021 0,77x
EV / Sales 2022 0,71x
Nbr of Employees 12 100
Free-Float 96,2%
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Mean consensus HOLD
Number of Analysts 6
Average target price 44,50 $
Last Close Price 44,28 $
Spread / Highest target 0,50%
Spread / Average Target 0,50%
Spread / Lowest Target 0,50%
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Managers and Directors
NameTitle
Persio V. Lisboa President, Chief Executive & Operating Officer
Walter Gerhardt Borst Chief Financial Officer & Executive Vice President
Troy A. Clarke Executive Chairman
Julie Ragland Chief Information Officer & Senior Vice President
Vincent J. Intrieri Lead Independent Director
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