USA: Navistar to Take Fourth Quarter Charge Against Earnings
Navistar International Corporation (NYSE: NAV), producer of International(R) brand trucks, school buses and diesel engines, has announced that it will take a pre-tax charge against earnings in the fourth quarter of approximately $300 million as it restructures operations and prepares for the launch of a series of new products. The products include a new line of high performance medium trucks, a new integrated conventional school bus and a new generation of diesel engines. The restructuring charge will be fully tax effected as well as significantly reduce the company's obligations under current incentive and profit sharing plans by as much as $90 million.
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