Navistar Announces Global Commercial Bus Partnership with Investment in Brazilian Bus Builder Neobus

Navistar, Inc. NAV today announced a global commercial bus partnership with Brazilian commercial bus body manufacturer San Marino Onibus e Implementos Ltda. With its investment, Navistar will leverage the bus body building expertise of Neobus and Navistar's strengths in powertrain and chassis development. The Parties have recently signed a non-binding agreement and negotiations are at an advanced stage. Finalization and execution of the binding Definitive Agreements are expected in the near future.