International Corp. said Sept. 4 it would not shut down a heavy-duty
truck plant in Chatham, Ontario, after the Canadian and provincial
governments agreed to subsidize the factory.
addition, the Canadian Auto Workers union is investing in the plant’s
future, Navistar said in a release.
Navistar had originally announced last October that it would close
the plant, in May it reached an agreement to keep the plant open
if it got financial support from the Chatham-Kent municipal government,
the federal government of Canada and Ontario provincial government.
company said it did not expect the decision to reduce its fourth-quarter
earnings outlook from Aug. 15, when it predicted it would report
earnings of between 65 cents and 75 cents per share.
said in May the plant was producing an average of 35 trucks per
day. At its peak, the plant was producing more than 120 trucks per