USA: Navistar and Ford settle over diesel V6 project cancellation - report
Truck and diesel engine maker Navistar International has reached a settlement with Ford over the latter's decision to cancel a V6 diesel engine contract, Reuters reported, adding that the financial terms were not disclosed. According to Reuters, Navistar, in an 8-K filing with the Securities and Exchange Commission, said the agreement includes "appropriate recovery of excess costs" for a plant Navistar built to make the engines. Both parties are released from their obligations under the contract.
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