Navistar tallies $185M rise in metals costs; faces delisting
Dec 15, 2006 | 11:43 AM
| Philip Burgert
Truck and engine manufacturer Navistar International Corp., Warrenville, Ill., said its steel and precious metals costs had increased $185 million for the year-to-date through Oct. 31, while warning that the company would face delisting by the New York Stock Exchange after missing deadlines for financial reporting.
Navistar executives also said in a conference call with analysts that they anticipate a sharp drop-off in the truck and engine markets in 2007 and that they are aiming to continue a focus on global sourcing that has moved $540 million of sourcing offshore this year with a goal of gaining 70 percent of their cuts from materials costs.....
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