Navistar unit, San Marino plan joint bus venture

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

Camiones y Motores International de Mexico, S.A. de C.V. (“CMI”), the Mexico-based subsidiary of Navistar Inc., and San Marino Ônibus e Implementos LTDA (“San Marino”), 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 proposed venture is expected to begin by serving the Mexico and Latin American market with mid-size and midi bus models distributed under the IC brand. Future growth potential includes expanding sales into additional products and other world markets, including the U.S. and Canada.