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Navistar to leave Chicago??

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Glenn

09-16-2000 21:55:49




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Dunno if anyone is interested, but there was an article this week in the Chicago Tribune that said Navistar may sever its 150+ year relationship with the city of Chicago and move to an office building being built some 25 miles away. Navistar won't comment on it; the city denies it... also, I was reading where PACCAR, the parent company of Kenworth & Peterbilt, was engaged in preliminary talks to buy the Navistar truck operations at the least, and maybe the whole company. I sure do hope that doesn't happen!!! It would be a great loss.

I understand that PACCAR is foreign-owned; I have not been able to confirm this. Can someone say for certain one way or the other? Thanks, guys.

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Dick

09-17-2000 07:16:34




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 Re: Navistar to leave Chicago?? in reply to Glenn, 09-16-2000 21:55:49  
PACAR, if I'm not mistaken, was the old Pacific Car and Foundry Company. I'm not sure if they
have any foreign money behind them.



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Glenn

09-17-2000 10:55:32




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 Re: Re: Navistar to leave Chicago?? in reply to Dick, 09-17-2000 07:16:34  
Yup, it was the old Pacific Car. The reason I'm wondering is because the Navistar Web site states that International is the only American-owned heavy truck manufacturer in the industry. I know Freightliner is owned by DaimlerChrysler, Volvo is Swedish, and Mack is owned by Renault, so I'm wondering who holds the majority stake in PACCAR. I'm guessing it's a situation like Case New Holland, where Fiat owns 71% of the stock and the rest is publicly traded. Of course, the PACCAR Web site says nothing about it . . .

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