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Navistar purchase good news in Coburg
Friday, June 05, 2009 | No comments posted.
COBURG (AP) — Business and community leaders in Coburg were pleased to hear that Navistar International Corp. has completed its purchase of some Monaco Coach Corp. assets for about $47 million.
Monaco, the Coburg-based recreational vehicle maker, filed for Chapter 11 bankruptcy protection in March as the economic downturn and credit crunch decimated demand and financing for the vehicles.
Navistar said it will create a new Coburg-based company — Monaco RV — that will operate as a subsidiary. Navistar said production at Monaco will resume at some facilities in the coming months, but would not be more specific.
Monaco, the Coburg-based recreational vehicle maker, filed for Chapter 11 bankruptcy protection in March as the economic downturn and credit crunch decimated demand and financing for the vehicles.
Navistar said it will create a new Coburg-based company — Monaco RV — that will operate as a subsidiary. Navistar said production at Monaco will resume at some facilities in the coming months, but would not be more specific.
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