February 15, 2013
Navistar is continuing on its quest to reevaluate all non-core assets of its business.
Steve Schrier, spokesman for Illinois-based Navistar, told The Elkhart Truth the company has received and entertained offers for its Monoco, R-Vison and Holiday Rambler product lines.
“There have been unsolicited offers in the past that we have rejected,” he told the newspaper. “Now we’re in the formal process. We’re looking at formal offers. We’ve not accepted any offers at this time.”
Navistar bought the former Monaco Coach Corporation out of bankruptcy in 2009 and rebranded it Navistar RV last year.
With profits and sales shrinking across most of its product suite, Navistar announced a profitibaility initiative in September that included the reevaluation of the company’s business model, with emphasis on non-core operations.
Earlier this week, the company announced the sale of its stake in Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Pvt Ltd (MNEPL).
Schrier told the newspaper the company would not discuss which of its business segments were profitable, but added the motorhome industry was “nowhere near its peak. I think it peaked in 2005 and 2006. It’s a fraction of what it was.”
Since the peak, The Truth reported, the workforce at its Elkhart County RV operations has dwindled from 1,500 to “about 600.”